Black Box Intelligence™ (formerly TDn2K) is the leading data and insights provider of workforce, guest, consumer and financial performance benchmarks for the hospitality industry. The Black Box Intelligence product suite is the industry standard for operators seeking to achieve best-in-class performance results. With the largest and most reliable set of real restaurant data in the marketplace, Black Box Intelligence currently tracks and analyzes more than 300 companies, over 2.8 million employees and $72 billion in annual sales revenue. Black Box Intelligence is also the producer of the Global Best Practices Conference held annually in Dallas, Texas.
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The restaurant industry’s sales stumbled again in November as the number of COVID cases rose rapidly and colder weather started to become an obstacle for outdoor dining in many areas of the country. Same-store sales growth was -10.3%, which represented a 3.8 percentage point drop from October’s year over year sales growth rate. November’s -16.3% same-store traffic fell by 3.3 percentage points compared to the previous month’s performance.
The restaurant industry’s performance continues improving with October posting the best same-store sales growth results since the beginning of the pandemic. But there are some reasons for concern that the industry’s recovery has stalled in recent weeks and may be a sign of things to come. October’s same-store sales growth represented only a small improvement from the -8.1% growth reported for September.
For an industry that was among the hardest hit by the pandemic, September brought some welcome good news. The sales recovery continued into September, which at -8.1% same-store sales growth, became the best performing month since February (before the pandemic hit restaurant sales at a national scale).
