USA Today reported on July 17th “For the first time in years, the $70 billion casual dining industry sit-down eateries that generally serve alcohol and sell entrees from $10 to $20 is taking a hit. Some of the big names from Applebee’s to Cheesecake Factory to Outback Steakhouse report recent slides in sales at stores open at least one year. Many of their stocks are hovering at 52-week lows. Some folks are eating out less. Others are trading down to fast food. Some are skipping dessert or ordering less wine. The result is that casual dining’s growth is slowing, and no longer outpacing the industry…For the first time in years, the $70 billion casual dining industry sit-down eateries that generally serve alcohol and sell entrees from $10 to $20 is taking a hit. Some of the big names from Applebee’s to Cheesecake Factory to Outback Steakhouse report recent slides in sales at stores open at least one year. Many of their stocks are hovering at 52-week lows…
Driving the downturn:
Rising gas costs. A home with two SUVs in the driveway needs an extra $1,500 per year to pay for costlier gas, Oakes says. “And the consumer is thinking the price hikes aren’t temporary this time.”
Better downscale choices. Upgraded options at fast foodies such as McDonald’s and fast-casual spots such as Panera Bread are attracting penny-pinchers, says Ron Paul, president of research firm Technomic. McDonald’s on Monday reported second-quarter same-store sales up 4.2%.
Higher credit card costs. Most major credit card issuers raised minimum payments last year, so many consumers have less “fun” money, Collier says.
Weaker real estate market. As housing prices weaken, some folks “feel” less wealthy, Oakes says.”
Yelm has several terrific casual-dining choices including:
Arnold’s Country Inn
Annie’s Bistro
Bar Cinco
Blue Bottle Espresso
Mr. Doug’s
Casa Mia
Chinese Wok
Puerto Vallarta
And Toscano’s
to name a few.
Won’t you consider supporting one of these fine purveyors by taking your family out to dinner?
Post a comment
One comment
I personally drive a medium size car and get better milrage then most of the gas guzzlers out there. I didn’t take a trip on my birthday – not because I didn’t want to – but, because of the gas issue. For even my size of car the gas bill can’t always be pretty.
I personally love to eat out and do not mind spending the extra dime or two to support my community’s cafe’s and eaterys.
BUT, I want something in exchange – just not good food. I want good service & I want lower prices. It may only cost 10 cents in gas or a swift walk to get to Arnolds, but the price’s kill it so I won’t be able to eat anywhere for a couple of weeks or cheat on a bill or the grocerie list.
It is a wild economy that we now find ourselves in. When my mother was working when I was 12 years old she worked for Woolworths at 25 cents a hour. My first job was working at Fosters Freeze in Santa Cruz, California for 50 cents a hour. Gas for my beat up 1955 Ford Wagon with the only good seat being the drivers seat was 25 cents a gallon.
Time flys and here we are 40 years later and gas at AM/PM is now $2.93 a gallon (partly because of the expensive gas tax) and wages are high. But, then so is rent, utlities, food, clothing, etc.
People talk about the old good life when things were cheap – like they were a beloved memory not to get rid of. Yea, things were cheap and not just the price – but most things were made well and with extra care – not like today.
Today we see people who can afford a beautful home of their own design living in ticky tack houses, so close you can hear your neighbors breathe and their arguments are the talk of the neighborhood.
We see people who can afford to drive smart flaunting their money by seeing who can get the biggest and best SUV even if it sets in the driveway and goes no where. My car could run a month on their gas bill and maybe longer.
All this and more cultipates into the food industry. You want my money – than it all can’t be your way – I want and need a portion of it to.
As a resturants budget screams for mercy so does mine. It’s hard to say lower your prices but that is what they may have to do to insure that people like me who would rather eat out than cook their meals – do eat out and DO NOT cook!
The comments are closed.