Atlanta Q1 2018 restaurant sales volume increased 0.4% vs. Q1 2017. For the quarter ended March 2018 positive sales trends were reported at 45% of the 103 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 2018 revenues increased by just 0.1%. This was the second straight quarter of positive sales. Nationally restaurant traffic continued its downward trend declining -2.7% in Q1.
Robert Wagner, NetFinancials founder states that, “Q1 2018 was the third straight positive comp sales quarter for established Atlanta restaurants. While total restaurant sales growth was positive, it is concerning that Q1’s growth was not evenly distributed. 55% of stores we surveyed experienced negative sales comps in Q1.
Carl Muth of FoodService Resource Associates LLC who tracks restaurant activity in Georgia estimates that 120 new restaurants opened in Metro Atlanta during Q1 2018. That is down 14% from the new restaurant openings tracked in Q1 2017
Also, Atlanta’s economic expansion continues to show a slowing trend. Although Metro Atlanta unemployment dipped in March 2018 to 4.0% from 4.7% in March 2017, Atlanta added only 45,200 jobs since March 2017. That rate of job growth is down 40% from job growth for the year that ended March 2017.
The economic tea leaves are indicating Atlanta’s economic expansion is entering either a brief pause or a mature phase with attendant slowing growth. Consequently, we’ve noticed experienced Atlanta restaurant operators remain vigilant should the current economic doldrums turn into serious headwinds.”
The 103 non-franchise restaurants were drawn from the metro Atlanta market. Total survey sales volume was $79 million for Q1 2018. The survey includes restaurants in Atlanta’s fast-casual, casual and fine-dining segments opened at least 15 months.
NetFinancials, Inc. provides a full range of tax and accounting services for restaurant companies. Email: firstname.lastname@example.org. www.netfinancials.com Direct: 404-874-7003. The NetFinancials quarterly Atlanta restaurant sales survey is provided as a public service to the restaurant industry. Copyright NetFinancials, Inc.