Best Restaurant Industry Sales Growth in Nearly Three Years; Hurricane Harvey a Factor
The restaurant industry continued its recovery in August. Same-store sales were up 1.8 percent, making it the best month since September of 2015. However, Hurricane Harvey hit the Texas coast in August last year, greatly impacting sales in the last week of that month, giving restaurants a built-in advantage. That soft comparison resulted in same-store sales growth of 2.9 percent for the last week of August 2018. These insights come from TDn2K's Black Box Intelligence™ data, based on weekly sales from over 30,000 locations representing 170+ brands and nearly $70 billion in annual sales.
"Regardless of the hurricane impact, It is important to highlight that sales were strong in August," said Victor Fernandez, vice president of insights and knowledge for TDn2K™. "At the end of July there was concern that restaurant sales might be slowing and the much-awaited recovery might be coming to an end. Nonetheless, sales in the first three weeks of August, which...
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