Friday, May 20, 2016

Yes, restaurants are overexpanding

Restaurant sales have taken a sudden drop in sales in March and April, according to various same-store sales indices. The drop seems to have hit many in the industry by surprise, and suggestions for the decline have been numerous: The economy; skittish consumers; mediocre weather; grocery sales; auto sales; rising gas prices.

Here’s another: There are too many restaurants.. . . more

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