Fine dining and upscale casual restaurants were the best performing segments in Q4.
The fourth quarter of 2017 proved to be a much needed positive one for the restaurant industry. According to new data from TDn2K’s The Restaurant Industry Snapshot, same-store sales increased by o.4 percent, marking the first quarter of growth since 2016.
A recent article in QSR Magazine highlights the data, noting that November was the second consecutive month in which the restaurant industry reported positive momentum. That then continued in December.
Wallace Doolin, Founder and Chairman of TDn2K, said in a statement, “It’s a welcome change to report a positive quarter for our industry. Our research leads us to conclude that not only the industry has changed, but the performance results continue to change. In 2018, we expect the macro economic climate to improve for the industry; however, it will not be a rising tide for all brands.”
Overall, 2017 was a tough year for restaurant brands. Same-store sales declined 1.1 percent for the year, with traffic falling 3.2 percent. Despite those declines, fine dining and upscale casual restaurants were the best performing segments based on sales in the fourth quarter.