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It was good news and bad news for restaurant sales during July. At -15.1% same-store sales, July was the best month for the industry since February. But the bad news is that the pace of that recovery is starting to stagnate. As a comparison, same-store sales growth was -19.0% in June, which translates into an improvement of only 4.0 percentage points in year–over–year growth. That same monthly pace of improvement for the industry was a much stronger 16 to 19 percentage points during the previous two months.
Black Box Intelligence™ (formerly TDn2K) is the leading data and insights provider of workforce, guest, consumer and financial performance benchmarks for the hospitality industry. The Black Box Intelligence product suite is the industry standard for operators seeking to achieve best-in-class performance results. With the largest and most reliable set of real restaurant data in the marketplace, Black Box Intelligence currently tracks and analyzes more than 330 companies, 2.5 million employees, 50,000 restaurant units and $76 billion in annual sales revenue. Black Box Intelligence is also the producer of the Global Best Practices Conference held annually in Dallas, Texas.
The Black Box Intelligence Restaurant Industry Snapshot™ includes: industry leading financial performance metrics including sales and traffic from the largest set of real restaurant data at the region and market level. This monthly update also includes workforce trends, as well as expert commentary from Black Box Intelligence analysts. Each update provides context around economic conditions, regional benchmarks and a look at what’s to come.