Saving Seafood

US restaurants raising prices, streamlining menus

March 1, 2023 — Year-over-year sales totals at U.S. restaurants rose significantly in January, but foodservice operators continue to remain plagued by sky-high food, labor, and energy prices.

Sales at U.S. eateries soared 24 percent in January to USD 95.5 billion (EUR 90 billion) on a seasonally adjusted basis in January, according to preliminary data from the U.S. Census Bureau. The figure is also up over both November and December 2022, which each saw roughly USD 89 billion (EUR 84 billion) in sales, according to the National Restaurant Association.

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Complicated labor picture challenging US restaurant sector growth

February 7, 2022 — A new report from the National Restaurant Association is predicting the U.S. foodservice industry will grow 6 percent to reach USD 898 billion (EUR 786 billion) in sales in 2022.

But the NRA’s 2022 State of the Restaurant Industry Report found it faces numerous existential threats, including rising business costs, an extremely shallow labor pool, and supply chain disruptions. More than half of operators believe it will take more than a year for business conditions to return to normal, the study found.

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Restaurants’ headwinds include labor, inflation, but pent-up demand in their favor

January 21, 2022 — Restaurant operators face significant challenges – especially finding enough employees – but have pent-up dining demand in their favor, according to B. Hudson Riehle, senior vice president of the National Restaurant Association Research and Knowledge Group.

Restaurants’ labor costs are running at the highest rate in more than 40 years, Riehle said at the National Fisheries Institute’s Global Seafood Market Conference (GSMC) in Orlando, Florida, U.S.A., on Wednesday, 19 January.

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Food costs hurting restaurants, but Darden won’t raise prices

October 1, 2021 — Most U.S. restaurants are paying more for food, labor, and rent, according to a new survey, and a trade group representing the industry is concerned that the sector’s recovery will be pushed well into 2022.

The new National Restaurant Assocation survey found 91 percent of restaurant operators are paying more for food, 84 percent report higher labor costs, and 63 percent are paying higher occupancy costs. Additionally, 95 percent of restaurant operators said their restaurant experienced supply delays or shortages of key food or beverage items in the past three months. At the same time, restaurants’ profitability is down as 85 percent of operators reported smaller margins than before the pandemic.

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Restaurant groups applaud $60B funding bill

June 10, 2021 — U.S. foodservice industry organizations praised the introduction of federal legislation on 10 June that would provide USD 60 billion (EUR 49 billion) in additional funding to restaurants that ran into financial distress during the COVID-19 pandemic.

The Restaurant Revitalization Fund Replenishment Act, introduced in both the U.S. House and Senate, would effectively replenish the USD 60 billion (EUR 49 billion) Restaurant Revitalization Fund (RRF).

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Biden signs American Rescue Plan, providing aid for restaurants, seafood industry

March 11, 2021 — U.S. President Joe Biden on Thursday, 11 March, signed the USD 1.9 trillion (EUR 1.59 trillion) American Rescue Plan Act into law, opening the door for billions in aid to go to businesses – including nearly USD 29 billion (EUR 24.2 billion) for a restaurant industry that’s been battered by closures and other restrictions over the past year due to COVID-19.

On Thursday, the National Restaurant Association lauded the bill’s Restaurant Revitalization Fund, which association president and CEO Tom Bene said will help save jobs across the country.

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Restaurant industry begs for help as second wave forces new shutdowns

December 8, 2020 — U.S. restaurant groups are urging Congress to provide immediate financial help for the hard-hit industry, as new dining restrictions are expected to increase financial burdens and cause more restaurants to close.

An estimated 110,000 restaurants have already closed their doors since the start of the COVID-19 pandemic, according to the National Restaurant Association. In November alone, food and beverage establishments lost 17,400 jobs – the first month since April the industry has lost jobs, according to new U.S. Department of Labor data.

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Reaction to COVID-19 relief bill mixed as restaurants close doors

December 3, 2020 — Restaurant organizations are reacting both positively and negatively to a new USD 908 billion (EUR 751 billion) COVID-19 relief bill proposed by a group of U.S. legislators.

Due to renewed indoor dining restrictions in several U.S. cities and states, many restaurants are temporarily – or permanently – shutting their doors, and many others are struggling to stay afloat. Seafood suppliers, distributors, and wholesalers are, in turn, taking a hit from the widespread closures.

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US election results could have big impact on the restaurant industry

November 10, 2020 — The results of the recent U.S. election is expected to both positively and negatively impact restaurants, which are already struggling to remain open due to COVID-19 restrictions.

The National Restaurant Association has applauded the election of President-elect Joe Biden – who beat out current U.S. President Donald Trump, who was seeking a second term – but the organization stressed the urgency of Washington delivering financial help to the foodservice industry.

Read the full story at Seafood Source