WASHINGTON National Restaurant Association. —Capital expenditures stood at a record low in November as weak sales and pessimistic attitudes about the economy kept operators from spending on their operations, according to the
Just 39 percent of operators surveyed monthly by the NRA said they had either purchased equipment or spent on remodeling or expansion since September, a new record low for the survey, which was released late last month. Operators also said they remain hesitant to plan for future spending because of doubts related to any economic recovery. A still-frozen credit market and projections for weak consumer spending through 2009 have kept many operators unable to invest in operations. —Capital expenditures stood at a record low in November as weak sales and pessimistic attitudes about the economy kept operators from spending on their operations, according to the
“The continued deterioration in economic conditions is reflected in operator sentiment, with a record 47 percent of restaurant operators saying the economy is currently the No. 1 challenge facing their business,” said Hudson Riehle, senior vice president of research and information services for the NRA. The NRA’s report revealed that just 40 percent of operators plan to make a large capital expenditure during the next six months, a result that was up slightly from the record low of 37 percent in October. —Capital expenditures stood at a record low in November as weak sales and pessimistic attitudes about the economy kept operators from spending on their operations, according to the
November marked another tough month for the restaurant industry, as 60 percent of NRA respondents said they posted negative same-store sales and traffic levels, as measured against a year ago. Looking forward, 48 percent said they expect their sales during the next six months to be lower than in the same six months a year ago. —Capital expenditures stood at a record low in November as weak sales and pessimistic attitudes about the economy kept operators from spending on their operations, according to the