Same-store restaurant sales fell 0.61% in February to end eight straight months of positive growth, according to tracking conducted by TDn2K.
Same-store traffic was down 3.67% in January and fell 1.74% on a rolling three-month basis. The worst performing region was the Midwest, where harsh winter weather is believed to have held back traffic.
Average restaurant ticket across the sector was up 3.1% Y/Y during the month,
TDn2K breakdown: "Bad weather seems to be the catalyst that amplifies the effects of the challenges faced by chain restaurants. There are too many restaurant locations and too many players competing in the food-away-from-home category. Any disruption in the usual routine of consumers seems to be enough to cause a downturn."
Restaurant stocks: CAKE, CBRL, DNKN, DPZ, DRI, EAT, JACK, MCD, RRGB, SONC, WEN, QSR, CHUY, BLMN, PZZA, TXRH, DENN, DFRG, RUTH, DIN, HABT, NDLS, BOJA, LOCO, TACO, PZZA, KONA, PBPB, BJRI, CHUY, CBRL, BURG, BOJA, ZOES, ARCO, YUM, CMG, SHAK, TACO, WING, FAT, ARKR, LUB, BURG.
Now read: Downside Protection For Yum Brands »
Subscribe for full text news in your inbox