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home | Restaurant Economics | Restaurant Industry . . .
 

Restaurant Industry outlook remained positive. (July 2010)

The outlook for the restaurant industry has remained positive, according to the National Restaurant Association's most recently recorded Restaurant Performance Index (RPI), a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry. Though the RPI stood just above 100 at 100.4 in April, it remained virtually unchanged from its March level of 100.5. RPI levels above 100 indicate expansion of key industry indicators, according to the Association.

The RPI consists of two components, the Current Situation Index, which measures four industry trends (same-store sales, traffic, labor, and capital expenditures) and the Expectations Index, which measures restaurant operators' six-month outlook for those industry indicators. The Current Situation Index, which stood 99.0 in April, has remained below 100 for the 32nd consecutive month, signifying that the restaurant industry has still suffered from setbacks during a slowly recovering economy. The Expectations Index stood at 101.8 in April, down slightly from a level of 101.9 in March.

According to the Association, 39 percent of restaurant operators reported a same-store sales gain between April 2009 and April 2010, down from 43 percent in March. In addition, restaurant operators reported a net decline in customer traffic levels in April, after posting positive traffic results in March. Thirty-seven percent of restaurant operators reported an increase in customer traffic, which is lower than the previously reported 41 percent.

Capital spending is on the rise, however, with 40 percent of operators reporting such expenses. And restaurant operators remain solidly optimistic about sales improvements in the months ahead, with 47 percent expecting higher sales in six months. Only 12 percent of restaurant operators expect their sales volume in six months to be lower than it was during the same period last year.

And for the third consecutive month, restaurant operators reported a positive outlook for staffing gains in the months ahead, according to Association research. Twenty-two percent of operators expect to increase staffing levels in six months, while just 12 percent plan to reduce staffing levels in six months.




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