Winter weather dampens restaurant industry forecast
Following lackluster Q1 results, largely weather-related, Technomic now estimates 3 percent industry growth for 2014, a decline from its initial annual forecast of 3.5 percent. Updated estimates show a 2 percent decline in overall industry sales in Q1.
In the aggregate, public companies weathered the storm much better than their private counterparts, according to a news release. Sales grew 2.8 percent in public restaurants, while private restaurants declined 3.1 percent.
Topics: Trends / Statistics