June 19, 2020
Happy Friday! Heading into the weekend I thought it would be fun to take a look back and highlight some increasingly positive aspects of our daily numbers!
My favorite is the view of restaurant sales year-over-year. You can see the states were less impacted by COVID and hit Phase 2 reopening the earliest (green line) are now only down by 17% year-over-year!
And while Minneapolis was in the group of our cities that saw very high percentages of closures, their closure numbers have dropped over the past few weeks from 60% to 31%.
Finally, from the beginning of the crisis through around April we saw closures that were similar between full service and fast casual. Around Phase 1 reopenings, we started to see those lines diverge. Fast casual came back first with closures dropping to 23% but as Phase 2 has rolled out, full service has come roaring back and is now down to 17% in closures.
This little summary of bright spots is not meant to minimize how hard most of us (all of us?) still have it. I still have one location closed with the other down 70% (it’s tough being in malls!) but happy to take the good news where we can find it!
Stay safe,
Bo
PS – For those following along on these notes, but are not a MarginEdge client, we would love to include your numbers in our data set and continue to build out the value of the reporting. We are giving our MarginEdge Lite product for free for the rest of the year (normally $15/month). This little tool connects your POS to accounting system and creates journal entries – hopefully time saving for you while increasing our sample size as we track recovery across our network. Obviously no obligation or commitment, just an offer for those interested!
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