Posted on 11/09/2009 4:38:11 AM PST by iowamark
t might not be good for America's waistline, but froufrou dining off petite plates is out. The recession has made us hungry for family-size piles of comfort food..
Like other segments of the retail economy, the restaurant industry has struggled over the past two years as unemployment has soared and consumers have curtailed spending. The National Restaurant Association's performance index shows that the industry has been shrinking for 23 months in a row. High-end bistros have fared the worst, with sales at fancy restaurants like Ruth's Chris and Morton's Steakhouse off by 20 percent or more, as corporate customers pare expenses and other diners trade down. Casual- and family-dining places have suffered too, as people eat out less, order more takeout, or cook at home. Even fast-food chains like McDonald's and Burger King have lost business, despite dollar meals and other deals meant to keep the fryers sizzling.
Still, as in other whipsawed industries, a few survivors stand to benefit from the widespread pain. To figure out who they are, I analyzed data provided by financial research firm Capital IQ, a unit of Standard & Poor's, to see which publicly owned restaurant companies with at least $250 million in annual sales have gained revenue and market share since the recession began near the end of 2007. Then I researched earnings reports and other sources to separate firms with strong inherent growth from those benefiting from mergers, accounting anomalies, or one-time events.
Of 41 firms on Capital IQ's initial list, only eight made the final cut. All emphasize value, whether it's huge portions or quality for less. And all of these companies are financially healthy, with reasonable debt and the wherewithal to keep expanding despite a credit crunch. Here are the restaurants with the right recipe for lean times:...
(Excerpt) Read more at finance.yahoo.com ...
HOOTERS!!!!
When I stay in Akron, OH area there’s one conveniently next to the motel (Cracker Barrel, that is). And I am from the NE.
Of course back home there are lots of non-chain places that do a half decent breakfast (sausage and cheese omellete for example)
But aside from that, their food is bland and unappetizing, served by waitresses that remind me of Church Lady from SNL.
On top of that, you got the hokey "front porch" with the chairs and swinging benches (all with price tags) that are the exact same whether you are in Tennessee or Massachusetts.
Worst of all, you got the ticky-tacky gift shop with the "They'll Do It Every Time" glasses, the Duck Dynasty calendars and the "Now That's What They Call Music" CDs.
This thread id from 2009, but.....ok. Glad to know yankees are still superior to us Southern rubes.
Actually I would not be so hasty to state that. Nobody north of Mason-Dixie line can make sweet tea and cornbread like they do down South.
Our last few Cracker Barrel visits (2 or 3 different states while traveling) were really disappointing in terms of both food and service, to the point I don’t know if we’ll continue to patronize them.
OK.
LOL.
I am laughing because this thread is from 2009, because I am defending the South, and because I am drinking vodka with diet ginger ale, not necessarily in that order.
Yeah, I see that (2009, I mean). Hate when I get caught like that.
But hey — I stand by my remarks — CB used to be a travel standard, now... ehhhh... not so much.
I hope your vodka outweighs your ginger ale. It’s Saturday night, after all! ;-)
Yeah, I agree Cracker Barrel aint what it used to be. They opened a new one in St. Mary’s County and it stinks. Have a good evening.
Living in the past seems to be a specialty all your own.
Continue on grasshopper.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.