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.
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