The $1,400 stimulus checks that will be distributed to Americans under a certain income threshold (likely $75,000 for individuals and $150,000 for households) as part of President Joe Biden’s American Recovery Plan could lift restaurant sales by low-mid single digits for up to seven weeks, an analysis from Bloomberg Intelligence released Wednesday predicts. In comparison, the study says, the $600 checks last time around boosted restaurant sales by 3% for casual-dining and 5% for quick-service for three weeks. Quick-service stands to see more of a boost than full-service because many customers are still taking advantage of drive-thru, delivery and takeout at this point in the pandemic, with Bloomberg researchers predicting another 5% boost. Same-store sales for quick-service chains are already on the rise, with chains like McDonald’s, Dunkin’, Burger King, Wendy’s and Jack in the Box seeing a 7.6% same-store sales increase in the first three weeks of 2021 vs. 2.3% in the fourth quarter of 2020, according to MillerPulse data. Casual-dining chains like Bloomin’, Brinker and Darden stand to see another 3% same-store sales gain from the stimulus check boost this time around, as dining room restrictions tamper recovery. Same-store sales at these chains are much more slowly recovering, with MillerPulse reporting a same-store sales drop of about 21.9% in the first three weeks of the year vs. a 25.2% drop in the fourth quarter of 2020 for chains like Applebee’s, BJ’s Restaurants, Cracker Barrel and Denny’s. According to the latest updates from Bloomberg the Senate is still debating Biden’s $1.9 trillion plan and voting will likely extend into the weekend of March 5, as the March 14 deadline for the bill approaches. Also included in the bill will be the $25 billion restaurant relief bill, which is targeted to help small businesses, but not the minimum wage bill, which cannot be included in the finalized version of the bill, according to a ruling from the nonpartisan Senate Parliamentarian. – Source: NRN.
- Who We Are
Our Mission:
"…to be the highest quality provider of human capital to our clients.”
- What We Do
Human Captial Management Solutions That Work
Being Better often requires assistance from others who can help get your there.
- Employers
Welcome Job Seekers
Our #JobSquad has assembled everything Job Seekers need, to beBetter.
- Job Seekers
Welcome Employers
Our #JobSquad has assembled everything Employers need, to beBetter.
- Blog
Ways for you to beBetter
Tips, tools and perspectives for job seekers, employers as well as general information on ways to beBetter.
- Connect
Get Connected:
Connect easily with our Corporate Office or with any of our Franchise locations.Corporate Office, Coral Springs, FL
(954) 493-9200 info@ariteam.com
Atlanta, GA
(770) 433-2220 iphillip@ariteam.com
Chicago, IL
(312) 780-7510 cwilson@ariteam.com
Dallas - Ft. Worth
(469) 922-2048 jsosa@ariteam.com
(469) 922-2096 eroshan@ariteam.com
Davie, FL
(954) 990-4545 frankc@ariteam.com
Manchester, NH
(603) 825-5520 van@ariteam.com
Simpsonville, SC
(864) 900-2144 matt@ariteam.com
(864) 900-2144 grace@ariteam.com
- Search Jobs
Featured Jobs
- OUTSIDE SALES ENGINEEROutside Sales Engineer- Orlando/Central Florida If you're a driven professional...
- Territory Sales Manager - Philadelphia, PATerritory Sales Manager - Philadelphia, metro area, New Jersey, and Pittsburgh. We...
- Refrigeration Engineering ManagerRefrigeration Engineering Manager Texas...
- OUTSIDE SALES ENGINEER
Leave a Reply
You must be logged in to post a comment.