Hot finance topics

U.S. restaurant operators reported lower sales and customer traffic last month, according to the National Restaurant Association.

The Washington, D.C.-based association’s monthly composite index, which tracks the health and outlook of the U.S. restaurant industry, stood at 98.3 in July, unchanged from its June level. A score under 100 represents a period of contraction in such areas as sales, traffic, labor and capital expenditures.

“Restaurant operators reported negative same-store sales for the seventh time in the last nine months, with customer traffic levels also remaining below year-ago levels,” said Hudson Riehle, senior vice president of research and information services for the association.

For the sixth consecutive month, the sluggish economy topped the list of challenges reported by restaurant operators.

And 25 percent of restaurant operators said the economy is the number-one challenge facing their business, while 23 percent identified food costs as their top challenge no fax payday loan.

Other findings included:

• 50 percent of operators reported a same-store sales decline in July, down from 53 percent who reported similarly in June.
• 57 percent of operators reported a traffic decline in July, down slightly from 58 percent who reported negative traffic in June.
• 34 percent of restaurant operators expect their sales volume in six months to be lower than it was during the same period in the previous year, down from 38 percent who reported similarly last month.
• 29 percent of operators said they expect economic conditions to worsen in six months, down sharply from 43 percent who reported similarly last month.

Source