The table shows weekly American restaurants
Source: UBS Evidence Lab
US restaurant revenue is declining.
UBS Evidence Lab found that restaurant sales fell 69 percent in the week ended Nov. 29. However, the total revenue from the restaurant is still red.
Industry experts have predicted that the coronavirus outbreak in the winter will exacerbate restaurant problems. Cold temperatures mean that consumers will want to eat outside, even if they are provided with lamps and blankets.
The new winter outbreak of Covid-19 has led consumers to become more cautious and lead further restrictions on restaurants and mayors. New York City has once again banned indoor restaurants.
The epidemic has certainly accelerated the distribution of food. eMarketer estimates that third-party digital sales will more than double this year to $ 44.94 billion.
Investors have been watching the growth of third-party companies closely. Shares DoorDashAn increase of 55%, which was made public in early December. Its market value is $ 50.3 billion Chipotle Mexican barbecueOwner of Taco Bell Yum brand versus Domino’s Pizza:
But revenue and sales are not enough to save some restaurants if this revenue growth continues. The National Restaurant Association has closed an estimated 110,000 factories due to the epidemic. The Covid bailout bill passed by Congress late Monday means restaurants will be able to apply for the Paycheck protection plan. Elected Joe Biden Go to the office