businessliberal

Restaurants Look Ahead After a Rough Year

Las Vegas, USASunday, November 17, 2024

The restaurant industry is eagerly awaiting 2025 after a challenging 2024. Kate Jaspon, the CFO of Dunkin' parent company Inspire Brands, expressed her hopes for the new year at a recent conference in Las Vegas. The industry has faced multiple setbacks, with bankruptcy filings up by over 50% compared to last year. Restaurant traffic has been declining monthly, and major chains like McDonald's and Starbucks have disappointed investors with falling same-store sales.

However, there are signs of improvement. Sales have picked up from their summer lows, with fast-food restaurants seeing a 2. 8% increase in traffic in October. Companies like Burger King are also reporting growth in same-store sales. Additionally, the Federal Reserve has cut interest rates twice, making it cheaper for restaurants to finance new locations and boost growth.

federal reserve starbucks inspire brands las mcdonalds kate jaspon

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