December 9, 2020
The numbers below confirm what we all know, this latest resurgence and the wave of shutdowns are hitting us right where it hurts – the top line. In October full service restaurants had clawed back to “only” being down -30% year over year, and fast casual had gotten all the way up to -10%. But we have entered what feels like another free fall with full service down -52% and fast casual down -28%.
We are all focused on the vaccines – and there appears to be a movement in Congress for PPP v2. I remain optimistic about the late winter and early spring. But I am afraid the only consolation with the charts below is that you aren’t alone… let’s hope the case counts start coming down and these sales numbers can at least flatten.
I hope your staying safe, and doing your best to stay sane. This will pass…
Bo
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