Hard times for the American diner

Leave a comment

March 21, 2013 by indiecafes2013

Sales at what Bloomberg News calls casual-dining establishments are falling as higher taxes and petrol prices his US pockets, according this story.

It’s a story that rings true here in the UK, even if all the economic factors aren’t quite the same and what the US financial press means by casual dining is franchises such as Taco Bell: the recession is hitting cafes.

Bloomberg quotes Matthew Beesley, of Henderson Global Investors Holdings. He says casual dining is suffering because “it’s not food on-the-go and it’s not high-end food for people trying to treat themselves.”

The stats:  Sales at casual-dining establishments fell 5.4% in February, 0.6% in January and 1.6% in December. Three months of negative growth (I’m always amused that economists can’t bring themselves to say shrinkage) is a recession when it affects an entire nation’s economy.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

%d bloggers like this: