- Restaurant same-store sales were up 1.5% in April, according to data from TDn2K. The mark is the highest since September of 2015 and follows the 0.8% increase in March..
- Comparable traffic was down 1.4% during the month, a deceleration from the 2.1% drop in the prior month. Guest spending has been up about 3% in March and April to offset the drop in restaurant guests.
- "In April, to-go, delivery, catering and banquet sales each outperformed sales growth for dine-in sales. Across industry segments, the percentage of total restaurant sales represented by these off-premise food categories has been growing. Consumers behavior is shifting and 'on-the-go' has become an extremely important component of restaurant demand," reports TDn2K.
- Despite the positive signs for the industry in April, TDn2K issues some caution. "Stronger economic conditions and high consumer confidence are certainly factors. However, this performance has to be considered against last year’s soft sales. A longer view suggests there are still significant challenges for the industry," warns the research firm.
- Restaurant stocks: CAKE, CBRL, DNKN, DPZ, DRI, EAT, JACK, MCD, RRGB, SONC, WEN, BWLD, QSR, CHUY, BLMN, PZZA, TXRH, DENN, BBRG, DFRG, RUTH, DIN, HABT, NDLS, BOJA, LOCO, TACO, PZZA, KONA, PBPB, BJRI, CHUY, CBRL, WING, BOJA, ZOES, ARCO, YUM, CMG, SHAK, TACO, WING, FAT, ARKR, LUB.
- Now read: Downgrading Bloomin' Brands After 39% Gain, Jana Partners Sale
Original article