Restaurants report stronger August sales

by The City Wire staff ([email protected]) 68 views 

Restaurants across the country reported better same-store sales and strong customer traffic in August, which pushed the National Restaurant Association Performance Index slightly higher than in July.

The association says 60% of restaurants have grown comparable store sales in the year-over-year period.

The sector has seen 15 consecutive months of forward progress, according to Hudson Riehle, senior vice-president of the N.R.A.’s research and knowledge group.

The index that measures restaurant owners’ expectations over the next six months was generally optimistic for better sales. Only 12% expect lower sales into 2013.

Restaurant operators are not as bullish about the direction of the overall economy, according to the report. Only 29% said they expect economic conditions to improve in six months, up from 22% who reported similarly last month.

Meanwhile, 20% of operators said they expect economic conditions to worsen in the next six months, while 51% think conditions will stay about the same.