In its survey of national restaurant sales TDn2K’s Black Box Intelligence, a restaurant sales and traffic-tracking company, reported national restaurant Q3 2018 revenues increased by 1.2%. This was the fifth straight quarter of positive sales. Nationally restaurant traffic continued its downward trend declining -1.3% in Q3.
Lori Johnson, NetFinancials president states that, “Q3 2018 was the fifth straight positive comp sales quarter for established Atlanta restaurants. It was however a mixed bag of results with just over half of restaurants showing an increase. This is also the first time Atlanta growth has been below the National data since Q3 2015 with operators continuing to see increased competition with the addition of new seats in the market.
Carl Muth of FoodService Resource Associates LLC who tracks restaurant activity in Georgia estimates that 655 new restaurants opened in Metro Atlanta during the twelve months ended September 30, 2018, a 11% increase over the twelve months ended September 30, 2017.
Atlanta’s local economy continues to show signs of expansion. Metro Atlanta unemployment declined in August 2018 to 3.6% from 4.7% in August 2017 while the metro area added 53,700 jobs over the last twelve months. During that period Atlanta food services added nearly ten thousand new jobs as a result of new locations opened during that time.
The Atlanta Convention & Visitors Bureau notes that Atlanta’s visitor traffic was about even with prior year with gains in August due to major concerts and conventions offset by a decrease in September due to 2017 hurricane evacuees and sporting events.”
NetFinancials, Inc. provides a full range of tax and accounting services for restaurant companies. Email: firstname.lastname@example.org. www.netfinancials.com. The NetFinancials quarterly Atlanta restaurant sales survey is provided as a public service to the restaurant industry. Copyright NetFinancials, Inc.