World Cup proves a big score for NYC restaurants

The soccer tournament provided a sales lift for 75% of the city's restaurants and bars, according to the New York City Hospitality Alliance.


Consumers are still spending on food

The Bottom Line: Despite high prices, people are not cutting back on food spending. And restaurants remain a strong source for consumers’ dollars.

The highwayside family dining restaurant chain also said it is growing its share among value-conscious consumers.

The chain will use the high-tech vending machines to sell more sandwiches in places like airports and college campuses.

The sandwich giant says its restaurants’ same-store sales rose 8.4% in the third quarter, with September particularly strong.

Data from shows the burger chain’s traffic is beating the broader restaurant industry and its fast-food competitors. Economic downturns are traditionally good for the company.

Technomic’s Take: Baby Boomers are dining out less often as they’ve aged. That’s a potential problem for restaurants as population growth stagnates.

The pandemic undeniably led to consumers ordering restaurant delivery in record numbers. Now, as dining rooms have opened many consumers have headed back to their favorite eateries; still delivery remains a huge part of many restaurants’ business.

The Bottom Line: Sales at restaurants and bars have been outpacing that of retail for much of the year. Prices may be playing a role, but it’s not entirely clear.

Hospitality establishments can deduct their sales from what they owe the state, up to $70,000 per month. The break expires at the end of September.

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