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Restaurant Economics
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Occupy Wall Street transitions to restaurant industry.
Occupy Wall Street, which has targeted bank practices has made its way to restaurants. A group of restaurant workers, Restaurant Opportunities Centers (ROC) United unveiled its National Diners' Guide 2012: A Consumer Guide on the Working Conditions of America's Restaurants (www.rocunited.org/dinersguide). . . . keep reading
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Rising Food Costs Could Mean Higher Costs to Consumers
Food costs are on the rise. As of February, wholesale food prices have risen 3.9 percent, according to the U.S. Labor Department. This was the largest increase since 1974, likely due to rising fuel costs, commodity prices and inclement weather, experts say. . . . keep reading
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Restaurant Industry Outlook Improved in February
Driven by improving same-store sales and customer traffic levels as well as growing optimism among restaurant operators, the outlook for the restaurant industry improved in February. The National Restaurant Association's Restaurant Performance Index stood at 100.7 in February, up 0.4 percent from its January level and represented the fifth time in the last six months that the RPI stood above 100. . . . keep reading
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Consumer Credit Card Spending At Restaurants and Bars Grows (January 2011)
Consumers continue to dine out, however, they're doing so with discount in hand or when responding to promotions at restaurants. Transactions in restaurants and bars in October grew by 12.6 percent -- slightly down from 12.7 percent in September. The average ticket price for the sector decreased 2.7 percent in October, according to the "SpendTrend" report, First Data found that card spending slowed across multiple sectors with a same-store dollar volume growth at 6.7 percent in October, down from 7.6 percent from the previous month. . . . keep reading
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Restaurant Traffic Slower than Population Growth Next Decade, Reports NPD (January 2011)
"The aging effect on the restaurant industry will be slightly negative because of aging Baby Boomers," said Bonnie Riggs, NPD's restaurant industry analyst and author of the report, A Look into the Future of Foodservice. "A greater share of visits will source to those 50 years and older in 2019, but as consumers age they become less frequent restaurant users. This means the restaurant industry will have heavier dependence on lighter buyers." . . . keep reading
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