Atlanta Q3 2017 restaurant sales volume increased 1.0% vs. Q3 2016. For the quarter ended September 2017 positive sales trends were reported at 57% of the 96 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 Q3 2017 revenues declined by 1.9%. This was the seventh consecutive quarter of negative sales results nationally. Restaurant traffic declined 4% nationally in Q3.
Robert Wagner, NetFinancials president states that, “Q3 2017 was the best comp sales quarter for established Atlanta restaurants in the last twelve months. Both comp sales and the percentage of restaurants reporting positive sales results improved in Q3. It is extremely encouraging that 57% of the stores in our survey reported positive sales in Q3. That number has not exceeded 50% of surveyed restaurants since September 2016. It is noteworthy that Q3 sales were positive even though torrential rains from Hurricane Irma dampened sales on September 11 and 12."
The positive Q3 comp sales means that year-to-date 2017 sales are no longer negative; but not positive either. Year-to-date 2017 sales through September are identical to sales through September 2016.
The Atlanta economy continues its expansion. Metro Atlanta unemployment dipped in September 2017 to 4.1% from 5.0% in September 2016. In addition the number of new restaurants has moderated only slightly. Carl Muth of FoodService Resource Associates LLC who tracks restaurant activity in Georgia estimates that 590 new restaurants opened in Atlanta between October 1, 2016 and September 30, 2017.
Robert Wagner, CPA is president of NetFinancials, Inc. which provides a full range of tax and accounting services for restaurant companies. Email: email@example.com. 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.