Rebound in Discretionary Income Drives Sales Growth, Particularly for Full-Service Restaurants, Technomic's Financial Dashboard Finds
CHICAGO, June 16, 2015 —Tracking data from more than 100 national public and private chains that generate more than $40 billion in quarterly sales, Technomic's Financial Dashboard finds that restaurant chains' same-store sales increased at a healthy rate of 4 percent in the first quarter, compared to 0.8 percent a year earlier.
Quarterly performance data, in addition to other key performance metrics, housed in the online Technomic Financial Dashboard can benchmark company and brand financial highlights and enhance competitive intelligence.
"Economic indicators continue to improve with unemployment rates now below pre-recession levels," said Darren Tristano, executive vice president at Technomic. "With lower gas prices, improvement in the economy has increased disposable personal income levels for many American consumers in the lower- and middle-income groups. This has granted many Americans the discretionary income to increase their visits to family-style restaurants, which provide good family-dining occasions with hearty, yet affordable meals. As a result, the full-service family-dining segment in the industry bounced back in the recent year providing better-than-expected sales growth and improvement."
Some additional data that can be found in Technomic's Financial Dashboard include:
- Midscale restaurants' same-store sales increased by 5.8 percent in the first quarter, outperforming all other segments.
- Fast-casual same-store sales softened in the first quarter to a 5.3 percent increase, compared to 8.2 percent growth in the fourth quarter of 2014.
- Overall, all industry segments have posted a significant increase in same-store sales compared to the same period a year earlier.
- See same-store sales as compared to a year earlier here.
Reporting on the performance of public and private foodservice chains within each segment as well as the industry at large, the Technomic Financial Dashboard provides up-to-date industry information and historical company financial-health data. The dashboard enables users to analyze foodservice and commodity data and graph key performance indicators to understand the current foodservice financial landscape and develop new business opportunities. Online access enables easy data sharing with colleagues and the export of financial chart graphics for use in presentations.
Learn more about the Restaurant Financial Dashboard online platform and other Technomic products and services at Technomic.com or contact one of the individuals below.
Technomic Inc., a Winsight company, delivers a 360-degree view of the food industry. It impacts growth and profitability for clients by providing consumer-grounded vision and channel-relevant strategic insights. Its services range from major research studies and management consulting solutions to online databases and simple fact-finding assignments. Its clients include food manufacturers and distributors, restaurants and retailers, other foodservice organizations, and various institutions aligned with the food industry. Visit Technomic at technomic.com.
About Winsight, LLC
Winsight LLC is a recognized leader in business-to-business media and information services for the convenience-retailing, foodservice and grocery industries. Winsight has an extensive media portfolio, including five publications: CSP, Restaurant Business, FoodService Director, Convenience Store Products, and Winsight Grocery Business. Winsight also offers a suite of digital products, including websites, e-newsletters, webinars, video products, mobile and tablet apps, and custom marketing solutions. In addition to more than 12 major EduNetworking conferences and advisory meetings, Winsight also produces seven exclusive, large-scale executive-level conferences: Restaurant Leadership Conference, Global Restaurant Leadership Conference, Outlook Leadership Conference, Convenience Retailing University, FSTEC, MenuDirections and Restaurant Directions. In 2015, Winsight acquired Technomic Inc., a provider of primary and secondary market information and advisory services for the food industry. For more information on Winsight and its brands, go to www.winsightmedia.com.