TL;DR
The restaurant industry experienced a strong Q3 with same-store sales rising 1.2 percent in September, according to the Black Box Intelligence Index. The improvement came from higher prices and consumers buying more expensive items, despite a decline in customer traffic.
The restaurant industry posted a strong Q3 according to the latest Black Box Intelligence Index, with same-store sales rising 1.2 percent in September. An article in Nation’s Restaurant News explained that the index gathers data based on weekly sales from over 30,000 locations of more than 170 brands.
Despite this being the industry’s best quarter since 2015, the index noted the improvement came from higher prices and consumers buying more expensive items as opposed to more traffic. Though at a slower rate, restaurants still experienced a decline in customers in September.
As noted by Restaurant Business, Victor Fernandez, VP of insights and knowledge at the index’s parent company TDn2K, acknowledged signs of recovery in some areas but the industry is not yet out of the woods. “Overall we’re seeing a restaurant industry that is a bit stronger than it was a year ago … It’s all about a relative recovery. We’re doing better, but the industry is far from growing in a healthy manner,” Fernandez said.
In this story
This story was originally published in 1851 Franchise on October 12, 2018. Burnaze summarizes and links to the original reporting.
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