Good year predicted for Arkansas restaurants
by February 22, 1999 12:00 am 64 views
A recent study indicates Arkansas restaurants may fare better than the national average in 1999.
The study, commissioned by the National Restaurant Association and conducted by Deloitte & Touche, predicts that restaurant revenues will climb by 4.6 percent nationwide and by 5.6 percent in Arkansas. The increases were attributed to a booming economy and more disposable income.
The figures compare with predicted increases of 5.7 percent for Texas, 4.8 percent for Oklahoma and 4.6 percent in both Louisiana and Missouri.
Real restaurant sales, those adjusted for inflation, should increase by about 1.8 percent in 1999, according to the study. That’s down from a 2.6 percent real-sales increase for 1998 over the previous year.
People who eat out are spending more per meal, according to the study. Average check price is expected to increase by 2.8 percent in 1999. The 1998 increase was 2.5 percent. The cost of dining out is expected to increase in 1999 by more than the national inflation rate.
Sales at full-service restaurants are expected to climb to $117.3 billion this year, a 2.1 increase in real terms. The study predicts sales at fast-food restaurants to increase by 1.8 percent to $110.4 billion.