Thursday, September 28, 2017

Tight-fisted diners flock to fast food, not midprice restaurants

Moderately priced restaurants, from Shake Shake to Cheesecake Factory, are losing their edge as diners seek out even cheaper alternatives, like fast food.

Price-conscous consumers are more likely to turn away from the so-called fast-casual and casual-dining segments of the restaurant industry that they may have frequented in the past.

"The burger guys, the pizza guys, the chicken category, the Mexican category -- they’re all on fire," said Nick Setyan, a senior vice president for Wedbush Securities."You have positive growth in the restaurant industry, but concentrated in quick-service restaurants.". . . more

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