While 2016 was a successful year for the restaurant industry, in 2020, it was not so lucky. One of the reasons for this is because people have become hesitant to go out and eat at restaurants. We are living in an era where technology has taken over many aspects of our lives, and so if you wanted to have lunch or dinner with a friend, often one of you has
Many restaurants have turned to delivery and takeout services following COVID-19. However, many chains and independents have faced losses. Some may never recover.
NRN is a leading restaurant publication that ranks the most successful chains in the foodservice industry by sales. These include both fast-food and non-fast food restaurants.
This is quite telling! Using data from the Top 50 chains in the ranking, NRN’s figures reveal that domestic sales dropped by 4.3% over the past year, while overall retail revenue remained at an all-time high of $319 billion. Looking at the demographics, an exciting trend is seen where sit-down establishments were more likely to do worse than grab-and-go places.
The pizza category is the only one to show a 10% increase in sales, while the burger category is up 4%.
The restaurant industry has always been competitive, and in recent years, the industry has become a battleground for food-delivery apps like Grubhub and Uber Eats.
It’s not just fast-food chains that are struggling. The entire restaurant industry has reported a decline in sales, with restaurants reporting.
TGI Fridays
TGI Fridays 2020 systemwide sales (all): $874.4 million
TGI Fridays 2020 systemwide sales (U.S.) – % change: -18.2%
Krispy Kreme
In 2020, our company’s total sales were expected to be around $876.3 million, increasing 1.5% from 2019.
Red Robin
> Sales for 2020: $1.17 billion > Initial decline: -28.2%
Waffle House
2020 systemwide sales (U.S.): $1.22 billion {% change over 2019: -7.3%}
Jersey Mike’s
“2020 systemwide sales (U.S.): $1.29 billion
Bojangles’
> 2020’s systemwide sales estimate: $1.29 billion > Estimated change in revenue over 2019: 3.5%
Carl’s Jr.
> In 2020, Chipotle’s sales expected to reach $1.33 billion.
Golden Corral
The 2020 systemwide sales (U.S.) for this company is $1.48 billion, a decrease of -17.4% over the previous year’s numbers.
The Cheesecake Factory
The systemwide sales of 2020 expects to be $1.53 billion, which is a fair percentage less than the $2.27 billion in 2019.
Five Guys
2020 U.S. systemwide sales: $1.57 billion, 3% increase over 2019
LongHorn Steakhouse
Sales this year are at a low amount, but the company expected it to grow exponentially in 2020. Sales this year are at a low amount, but the company expects them to increase by 17% next year.
Wingstop
2020 systemwide sales (U.S.): $1.61 billion | % change over 2019: 21%
Culver’s
2020 sales (US): $1.73B, 3% Increase from 2019
Zaxby’s
2020 sales (U.S.): $1.89 billion, -3% over 2019
Hardee’s
Sales for 2020 are currently projecting to be $1.99 billion and dropping 11.7%
Outback Steakhouse
2020 U.S. sales revenue: $2.10 billion (+/- 18%)
Cracker Barrel
Our 2020 systemwide sales (U.S) projects approximately $2.17 billion, down from $2.85 billion the previous year like successful restaurant.
Jimmy John’s
2020 systemwide sales projects to be $2.18 billion, which is -3.3% lower than the previous year.
Red Lobster
It projects that by 2020, worldwide sales (USD) will be 2.24 billion less than in the previous year, an estimated 7.3%.
Texas Roadhouse
2020’s systemwide sales (U.S.): $2.37 billion -14.5% change over 2019
Denny’s
We predict systemwide sales will be $2.4 billion in 2020, a 15% drop from this year’s projected revenue of $3.1 billion.
