Restaurant Profits Face Tough Times in 2013
Back in mid-November I described a behavioral shift with Millennials (aged 18 to 34) to eating out roughly once a week less than what the same age group did in 2007 per the NPD Group. As I mentioned at the time, that equated to a 20% drop in millennials eating out and my investing concern was what that would mean for the restaurant industry.
Since then McDonald's (MCD), Darden (DRI) and others have reported weaker than expected same-store sales fourth-quarter figures. According to the latest MillerPulse, an operator survey exclusive to Nation's Restaurant News, overall industry same-store sales were flat in December and traffic compressed. ...320 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.
