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The Canadian Foodservice Industry’s Recovery Slows in Q3
Canada’s foodservice industry has shown promising recovery over the past year; however, growth slowed in the quarter ending September compared to a better-performing quarter last year, reports The NPD Group*. Visits to Canadian restaurants and foodservice outlets were up 6% in the quarter compared to a year ago, when traffic was up 12%. Consumer spending was up 10% in the quarter ending September 2022 compared to a 20% increase in the same quarter last year.
“The closer we get to full recovery of the foodservice visits lost during the pandemic..."
New Technomic Foodservice Index Represents Continued Decline in January, Dropping to 93.3
Each month, Technomic releases its TIndex, which showcases the index on the total U.S. foodservice industry. January's number continued the decline from previous months, dropping to 93.3, down from 95.9 in December and 97.2 in November. Based on this data, the industry is down 6.7% over a two-year basis but has grown by 11.1% compared to January 2021.
"The main reason for this continued downward slide is the lingering effect of the COVID-19 omicron variant," explains Joe Pawlak, managing principal at Technomic...
Jack in the Box Inc. Reports First Quarter 2022 Earnings
Jack in the Box Inc. announced financial results for the first quarter ended January 23, 2022, comprised of growth in systemwide sales and same-store sales.
“We began fiscal 2022 with solid results, including comps on a two-year basis of +13.7%, despite a challenging operating environment for the entire industry,” said Darin Harris, Jack in the Box Chief Executive Officer. “I am proud of the resilience demonstrated by our franchisees, operators and corporate team members in delivering for our guests during a difficult period. We remain highly focused..."
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