Posted on 10/27/2023 7:59:05 AM PDT by Phoenix8
O’Charley’s is not alone, judging by the spate of chain restaurant closures this year. Boston Market has closed at least two-dozen stores; Applebee’s is planning dozens of closures; Qdoba intends to shrink by as much as 1.5% annually; and Veggie Grill has closed 40% of its locations in recent months.
But O’Charley’s struggles predate even today’s harsh environment. From 2017 to 2022, systemwide sales fell 34%, and unit count declined by nearly a third, according to data from Technomic.
(Excerpt) Read more at restaurantbusinessonline.com ...
The 3 essential things in life that everyone needs are food, energy and housing, when you remove 2 of them from calculating inflation, it makes any inflations numbers from the government meaningless.
i thought boston market went totally teats up decades ago ...
That would make the most sense...
Here ya’ go:
“The sharp increase came due to contributions from consumer spending, increased inventories, exports, residential investment and government spending.”
How much is government spending and when did they start mixing this in with GDP?
When I retired, the folks at the shop bought me a gift card for Olive Garden. There's one about 30 minutes away, but I never used the card because since I developed Long Covid I can't eat many foods that I once could. So I sent the gift card to my son in FL as a birthday present, along with other items of course.
He used it right away, but I believe he used the entire card on one purchase because of how high the prices were. Crazy.
That's why I almost never get anything to eat out, and that's via the drive thru at the local BK or Arby's. That's it. Those are the only places that have food that my system can tolerate.
I miss the Ground Round.
That’s right but you will not hear one “news” outlet mention the rats removed 2 of the 3 main elements that influence the inflation numbers.
Restaurants are closing all over my area. None of my acquaintances eat out anymore. Too expensive, too sketchy.
....exactly......!!!! went to a local taco restaurant for a nice outside dinner; nothing special, just one beer, left an appropriate tip....over $57 total......who can afford that kind of splurge...??
our local OCharleys was good but never bounced back from 2020.
It is closed now.
we go out 1 ce a week but eat fairly cheap when we do.
About every other Sunday we would take the family out for breakfast. Now I invite them over and cook breakfast for them. Much better food and a lot cheaper too!
I rememeber when you could get a hamburger,french fries and a drink at McDonalds for one dollar....
I travel extensively for my job. I’ve always been frugal, even with company money. We don’t need receipts below $25 to get reimbursed so I use that as my goal for dinner.
It’s almost impossible now. Even at fast casual places.
Last year's federal deficit (overspending) alone was +$2 trillion, plus normal federal spending is always up. State and local spending increases too go into this calculation. It's pretty likely that ALL GDP growth is attributable to government growth alone. This is why when we're "officially" in recession, they increase government spending. It makes it look like a recession has ended, while just masking it while things normalize.
I ate at a Ground Round a couple years ago. I can’t remember where it was, maybe New Jersey It was awful. Not even a shadow of their previous greatness.
Ponderosa and Sizzler were great also, and Roy Rodgers
That’s right.
I often watch Bloomberg Wall Street show in the morning, it’s liberal but not nauseating like CNBC.
It dawned on me that all the Wall Street people they have on a daily basis, not one of them is old enough to have any recollection of an economy with significant and long-lasting inflation. The last time we had an economy with high inflation was the 70s and it lasted until Reagan got elected, except today it’s much worse.
When Paul Voelker raised interest rates 500 basis points in one day, the talking heads on Wall Street today would have a heart attack if that happened today.
They can’t conceive of inflation; they have total faith in the Federal Reserve and there is no chance the US Dollar could lose its reserve status.
When the SHTF in the economy they all will not understand what’s going on and say no one could have predicted this, when in reality a lot of people are seeing it happen in real time.
Ponderosa and Roy Rogers still have a few places. Don’t know about Sizzler
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