Foodservice industry remains in a period of expansion despite the challenging weather.
The National Restaurant Association's Restaurant Performance Index stood at 102.6 in February, generally in line with January's reading of 102.7. A reading in excess of 100 indicates a period of expansion for the restaurant industry.
"With same-store sales and customer traffic levels being impacted by challenging weather conditions in parts of the country, the Current Situation component of the RPI declined in February," said Hudson Riehle, senior vice president of the Research and Knowledge Group for the Association. "However, this was offset by a solid improvement in the Expectations component of the index, as restaurant operators are increasingly optimistic about business conditions in the months ahead. As a result, the overall RPI held relatively steady in February."
The Current Situation Index, which measures current trends in four industry indicators (same-store sales, traffic, labor and capital expenditures), stood at 102.0 in February, down from a level of 102.7 in January. Key data points from the Current Situation Index include:
The Expectations Index, which measures restaurant operators' six-month outlook for four industry indicators (same-store sales, employees, capital expenditures and business conditions), stood at 103.3 in February, up 0.5 percent from January's level of 102.8. Key data points from the Expectations Index include: