Same-store sales fell 3.7 percent in February, with traffic declining 5.0 percent. Unfortunately, January’s improved results were not a turning point in declining industry performance. Trends are hard to discern since weather, holiday shifts in Valentine’s Day and President’s Day and winter breaks distorted weekly results.
A macro view leaves little room for optimism. Same-store
sales averaged a 2.7 percent decline for the last three months.
February’s results were among the weakest in the last four years.. . . more