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HomeApril 15, 2003 – Restaurants Benefit from “Stay-at-Home” Consumers

April 15, 2003 – Restaurants Benefit from “Stay-at-Home” Consumers

People may not be traveling far from home these days but they are dining out in droves. Many restaurants, and in particular casual dining establishments, are enjoying increased business as consumers still feel the need to eat out, perhaps as a mental reprieve from the war issues or as a means of comfort. Such businesses that have posted gains in March include: Red Lobster – up 4.5%; Olive Garden – up 1.5%; P.F. Chang’s – up 5%; Outback Steakhouse – up 2.6%; Starbucks – up 7%. Ruby Tuesday says March was a strong month for them and estimates that sales for the quarter could be up 3% to 4%.

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