Atlanta Q1 2016 restaurant sales volume grew an impressive 3.5% over Q1 2015. For the quarter ended March 2016 positive sales gains were reported at 71% of the 109 independent Atlanta restaurants surveyed.
In its survey of national restaurant sales TDn2K’s Black Box Intelligence, a restaurant sales and traffic-tracking company, reported national restaurant Q1 revenues declined by 0.4%.
Robert Wagner, NetFinancials president states that, “The Q1 2016 Atlanta restaurant sales increase represents the best comp sales results since Q1 2015. In Q2-Q4 2015 the Atlanta restaurant market struggled to absorb an unprecedented number of new, innovative restaurants offering fresh dining options to Atlanta consumers. The Q1 2016 increase is more typical of the comp sales increases we saw in Atlanta prior to Q2 2015. While it is too soon to declare that new-store absorption in Atlanta is complete, the broad-based sales improvement of Q1 2016 raises hope that much of the absorption has been achieved. We expect operators to see continued strong 2016 sales growth.”
“While Q1 2016 Atlanta sales comps are dramatic, they are particularly impressive when compared to the same-store sales decline at the national level. It is noteworthy that half of all restaurant brands tracked by Black Box Intelligence reported negative sales trends in Q1. In contrast 71% of Atlanta restaurants surveyed reported positive Q1 comp sales.”
Q1 Atlanta Q1 National
2016 Comp Sales: 3.5% -0.4%
Atlanta’s unemployment rate decreased to 5.2% in March 2016 from 5.7% in March 2015. The positive unemployment trend (and related solid employment growth), plus new city residents and abundant business visitors helped Atlanta overcome a bleak national sales trend to post good Q1 numbers.
The Sample: The 109 non-franchise restaurants were drawn from the metro Atlanta market. Total survey sales volume was $75 million for Q1 2016. The survey includes restaurants in Atlanta’s fast-casual, casual and fine-dining segments opened at least 15 months.
Robert Wagner, CPA is president of NetFinancials, Inc. which provides a full range of tax and accounting services for restaurant companies. Email: firstname.lastname@example.org. www.netfinancials.com Direct: 404-874-7002
The NetFinancials quarterly Atlanta restaurant sales survey is provided as a public service to the restaurant industry. Copyright NetFinancials, Inc.