Reginal Thomas
All posts from Reginal Thomas
Reginal Thomas in reginal thomas,

Restaurants Are Feeling The Pinch Of A Slow Growing Economy

Ark Restaurants (NASDAQ:ARKR) which owns and opertates 29 restaurants through out the country most in New York, D.C., and Atlantic City reported a loss in revenue in their most recent quarterly reports compared to that of a year ago. In the three month period ending in June 29th the company had $36,473,000 versus last year at the same time when they made $39,193,000 one reason for the different in revenue is because two of their restaurants have since closed down it total the company saw a 2.2% decrease. 

We have already seen how retail stores such as Macy's and H&M have taken a hit over the slow growing economy, its only right that restaurants would fall in line. People aren't splurging on going out to eat any more because simply they don't have the money or are just too scared to spend the money.