3% Industry Growth Projected for 2014
Following lackluster first quarter results, largely weather-related, Technomic estimates 3 percent industry growth for 2014, a downward shift from its initial annual forecast of 3.5 percent. Updated estimates show a 2 percent decline in overall industry sales in the first quarter.
In the aggregate, public companies weathered the storm much better than their private counterparts. Sales grew 2.8 percent in public restaurants, while private restaurants declined 3.1 percent.
These and other key performance metrics are housed in Technomic's Financial Dashboard, an online tool that tracks and reports on public chains' performance within their segment and the industry at large.
According to Technomic's Financial Dashboard, public full-service restaurants saw sales increase 2.7 percent and had a 1.9 percent increase in units. During the same quarter, public limited-service restaurants increased sales 2.9 percent in the first quarter of 2014 and had a 1.9 percent increase in units.