An Interesting Indicator of how the Economy is doing….

I was reading an article that I thought was interesting (link to full article below), that restaurants can be an indicator as to how the economy is doing. I thought it was interesting the results, since last October was when everything blew up with the economy. Mimi’s Cafe I thought was interesting, was everybody in denial last year and continued eating out OR have people started to watch their budgets more and refrained from eating out in the more expensive, trendy hot spots. In the article it even cited the surprise with McD’s, even their sales are slowing, which may be an overall indicator that people may be slowing down on spending and eating at home more. What would have been really interesting to see is a comparison chart for grocery stores, to see if they had the opposite affect with better sales in this same period. Food for thought…haha, pun intended.

Restaurant Chain October Same-Store Sales

McDonald’s -0.1% / 3.3% (U.S. / overall)

Bob Evans Restaurants -2.0%

Mimi’s Cafe -7.2%

Buffalo Wild Wings (Nasdaq: BWLD) 0.8% / 1.9% (company-owned / franchised)

Chipotle Mexican Grill (NYSE: CMG) 2.7%

Cheesecake Factory -2.8%* *Results for recently announced third quarter.

http://www.fool.com/investing/general/2009/11/12/diners-trading-up-down-or-staying-in.aspx

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~ by debt2dreams on November 15, 2009.

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