Monday, November 30, 2020

Tag: Reasons Emerge for Worst Chain-Restaurant Slump since 2009

Reasons Emerge for Worst Chain-Restaurant Slump since 2009

0

by Wolf Richter, Wolf Street:
Six quarters in a row of year-over-year declines.

Foot traffic at chain restaurants fell 3{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in June year-over-year. Same-store sales fell 1{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}, the 16th month in a row of year-over-year declines, completing the sixth quarter in a row of sales declines, the longest downturn since 2009.

Food sales were down, alcohol sales were down. The only thing that was up was prices, but it wasn’t enough to make up for the decline in guest count: the average amount per check rose just 2{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in June.