Strong same-store sales drive restaurant traffic
Fueled by positive sales results and a more optimistic outlook among restaurant operators, the Natio…Fueled by positive sales results and a more optimistic outlook among restaurant operators, the National Restaurant Association’s Restaurant Performance Index (RPI) rose to 100.6 in March, up 0.7% from February’s level of 99.9. March represented the second time in the last three months that the RPI stood above 100, signifying expansion in the index of key industry indicators.
“The Restaurant Performance Index gain was driven by stronger same-store sales results in March, with comparisons aided by the Easter holiday occurring during the month," said Hudson Riehle, senior vice president of the Research and Knowledge Group for the Association. “In addition, restaurant operators are somewhat more confident in the economy and a majority plan to make a capital expenditure in the next six months."
While overall sales were positive in March, restaurant operators reported a net decline in customer traffic for the fourth consecutive month. Despite the mixed sales and traffic results, restaurant operators reported an increase in capital spending activity.