Restaurants felt the love this February, peaking mid-month at 12% overall growth across a 7-day moving average.
In the past, we could've most likely predicted February's peak happening on Valentine's Day itself, but it seems diners had other plans this year as February's biggest days for sales were the weekend before and after Valentine's Day.
By segment, Fast Casual ended up on top with 6% sales growth and Full Service was not far behind ending at 5% above last year.
Celery topped our Droppers list in February, but more exciting news is that egg prices dropped too, coming in fourth on our list! Sesame bagels were the top Mover for February, showing a 56% price increase on average compared to January 2023 prices.
Food, beer and liquor costs as a percentage of sales all dropped for MarginEdge customers in February, with food costs averaging 28% of sales.
While the numbers for Valentine's Day didn't peak exactly on the day, it's great to see that diners are still celebrating - albeit spacing it out a bit more. We're looking forward to what spring's warmer weather has in store for March's numbers! See you then.