U.S. foodservice operators are “cautiously optimistic” about 2010, according to the National Restaurant Association, even though the organization’s monthly composite index of the industry’s health declined for the third time in four months in November.
Released on Thursday, the NRA’s Restaurant Performance Index (RPI) totaled 97.8 in November, down 0.2 percent from October. Additionally, the RPI remained below 100 for the 25th consecutive month, which signifies a contraction in the key industry indicators that make up the RPI, including sales, traffic, labor and capital expenditures.
According to the NRA’s Restaurant Industry Tracking Survey, on which the RPI is partly based, 65 percent of operators reported a same-store sales decline in November, up from 61 percent in October, while 62 percent reported a restaurant traffic decline in November, compared to 60 percent in October.
However, 31 percent of operators said in November that they expect to post higher sales in six months (compared to a year ago), up from 29 percent in October, while 27 percent said in November they expect economic conditions to improve in six months, compared to 30 percent in October.
“Restaurant operators are cautiously optimistic that conditions will improve in the months ahead,” said Hudson Riehle, senior VP of the NRA’s research and knowledge department. “Restaurant operators reported a positive six-month sales outlook for the first time in three months and remained optimistic that the economy will improve during the next six months.”
Upward of three-quarters of the U.S. seafood supply is consumed away from home.
