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The industry had its worst month on record, and even that doesn’t fully account for how bad it was.
A late Thanksgiving, and not organic sales, gave November the appearance of a strong month, so expect a chilly December.
But the industry’s same-store sales have stabilized in recent months.
Restaurants continue to depend on check growth as customer count falls.
Same-store sales fell again, while traffic continued to be the industry’s Achilles‘ heel.
Industry same-store sales declined 1%, its worst performance in nearly two years as chains feel a summer lull.
Second quarter sales also slowed as falling traffic continued to be a problem.
Same-store sales improved from April’s weakness, but fears of an economic slowdown loom.
Traffic continued to decline as restaurants relied again on higher average check to generate sales.
But traffic remains weak as the industry relies on price to generate sales.