Franchise News
Q3 Restaurant Sales Growth Best in 3 Years
The latest Black Box Intelligence Index shows same-store sales increased 1.2 percent this quarter, most since 2015.
The restaurant industry posted a strong Q3 according to the latest Black Box Intelligence Index, with same-store sales rising 1.2 percent in September. An article in Nation’s Restaurant News explained that the index gathers data based on weekly sales from over 30,000 locations of more than 170 brands.
Despite this being the industry’s best quarter since 2015, the index noted the improvement came from higher prices and consumers buying more expensive items as opposed to more traffic. Though at a slower rate, restaurants still experienced a decline in customers in September.
As noted by Restaurant Business, Victor Fernandez, VP of insights and knowledge at the index’s parent company TDn2K, acknowledged signs of recovery in some areas but the industry is not yet out of the woods. “Overall we’re seeing a restaurant industry that is a bit stronger than it was a year ago … It’s all about a relative recovery. We’re doing better, but the industry is far from growing in a healthy manner,” Fernandez said.
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About the Author
Madeline Lena
FollowMaddie has spent her career in the media industry, serving in various editorial roles before migrating into a hybrid content strategy and PR role with No Limit Agency. Her passion for storytelling and love of writing help her create meaningful content on behalf of her clients and fulfill No Limit Agency’s mission to tell people-driven stories.
Maddie is a graduate of Saint Louis University, where she studied Communications with a focus in journalism and media studies as well as Sports Business. In her spare time, Maddie can be found exploring Chicago’s food scene, watching an NBA game or lamenting over her middling fantasy baseball team.
