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Restaurants with reopened dining rooms have recaptured 83.9% of their pre-COVID sales.
Spending is slowing in other areas, too, according to Facteus, potentially suggesting an impact from the loss of enhanced unemployment benefits.
Sales turned positive last week for the first time since March, according to Facteus, despite the loss of stimulus payments. RB’s The Bottom Line has one possible explanation.
Milwaukee businesses will forgo $186.5M, and Charlotte will lose $289.2M.
Sales are recovering slowly, but remain well below last year’s numbers, and full recovery could take time.
A sampling of recent weeks’ earnings announcements from a variety of small-cap companies and their brands.
Benchmarks suggest continued gradual improvement in industry sales, with fast food leading the way. But concerns remain.
Same-store sales were down 57.2% for the second quarter as dine-in returned and off-premise remained strong.
Total industry sales increased 20% last month, but they remain well off pre-COVID-19 levels and uncertainty remains, says RB’s The Bottom Line.
Industry sales appear to have rebounded some last week, according to tracking data, with quick-service flat or rising.
These emerging chains are the growth vehicles to watch—the ones poised to be major industry players in the coming years.
Food trends and recipes to keep menus fresh
New restaurants and soon-to-open concepts worth monitoring
RB’s exclusive ranking of the highest-grossing independent restaurants
Peter Romeo highlights the moments restaurateurs miss at their own peril
Ideas from the field you may want to borrow