Main > Archives > 2009 > March > Consumers Still Spending at Chili's & Other Casual Dining Chains
Friday, March 13, 2009
Consumers Still Spending at Chili's & Other Casual Dining Chains
Despite the tough economic times, Americans continue to dine-out on a consistent basis.
The latest consumer data report from the Geezeo Main Street Spending Index: Are People Really Dining Out Less? , compared the average amount spent at 50 chains in Feb. 08 to Feb. 09 and reported a 9.32$ increase.
Brinker (NYSE:EAT) hit a five-month high this week. Brinker is the parent company of Chili's,On the Border, Cantina, Maggiano's Little Italy, Romano's Macaroni Grill, with 1,900 restaurants in 25 countries.
Darden (NYSE:DAR) hit a low of $13.54 in November but is currently at $28.37. Darden owns Red Lobster, Olive Garden and Bahama Breeze (It sold Smokey Bones in 2008)
DineEquity,(NYSE:DIN), parent company of IHOP and Applebees, , went from 18.30 on Oct. 28 to 8.81.In fast food, McDonalds (NYSE:MCD)continues to boast strong sales. Geezeo's report offered this insight regarding fast food retailers:
Restaurant retailers numbers are much more up in the air, with fast-food retailers like McDonald’s reporting strong quarter results and others fairing just the opposite, the smart money is on firms’ that do not have to fight too hard for their market share.
Fine-dining hasn't fared as well. For example, Ruth's Chris Steakhouse Parent company, Ruth's Hospitality Group (NASDAQ:RUTH), is currently trading at 1.01, down from $8.30 last May, and it posted a $53.9 million-dollar loss in 08.
How has the economy impacted your personal budget? Vote on our poll.
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