Technomic Scales Back US Restaurant Sales Forecast
Following lackluster first quarter results, largely weather-related, Chicago-based research firm Technomic has dialed down its estimate for 2014 restaurant sales growth in the United States from 3.5% to 3%. Updated estimates show a 2% decline in overall industry sales during the first quarter.
In the aggregate, publically owned companies weathered the storm much better than their private counterparts. Sales grew 2.8% in public restaurants, while privately owned restaurants declined 3%.
According to Technomic's Financial Dashboard, an online tool that tracks and reports on public chains' performance within their segment and the industry at large, public limited-service restaurants increased sales 2.9% in the first quarter of 2014 and had a 1.9 % increase in units. During the same quarter, public full-service restaurants saw sales increase 2.7 % and had a 1.9% increase in units.
With the Financial Dashboard, participants can stay up-to-date on public chains' quarterly segment performance. Looking forward, it provides forecasts and outlooks, expert insights and updated analysis on how and where Technomic sees change in the industry. It can also be used to compile historical performance metrics.
Technomic provides clients with facts, insights and consulting support needed to enhance their business strategies, decisions and results. Its services include numerous publications and digital products, as well as proprietary studies and ongoing research on all aspects of the food industry.