Restaurants reported improvements in same-store sales and customer traffic in June, but the operator outlook for the longer-term remains softened, according to The National Restaurant Association's Restaurant Performance Index. Seventy-five percent of operators made a capital expenditure over the past three months, such as remodeling their restaurant or purchasing new equipment. Another 58 percent expect to make a capital expenditure within the next six months.
The industry continued to add jobs, increasing by 221,000 jobs this year. In addition, the industry's employment growth rate was 1.9 percent, above the national employment growth rate of 1.6 percent. Prices on commodities groups, including eggs, beef, citrus and potatoes, increased on a year-to-date-basis while others declined, including fresh vegetables, down 14 percent; poultry, down 5 percent; pork, down 3 percent; and cheese, down 2 percent.
Related: MOD Pizza, Shake Shack Top Fastest Growing Chains; NRF Increases Retail Sales Forecast.
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