Fourth of July celebrations lasted a whole week for Full Service restaurant sales last month, while Fast Casual sales stayed hot all of July.
By segment, Fast Casual beat out Full Service, with 3% sales growth, and Full Service at -1% compared to July 2022's numbers. Fourth of July celebrations saw a big boost in sales for Full Service all week long.
It was a great month for purchasing cucumbers and grapes coming in at the top of our Droppers list. Chayote squash and avocados topped our Movers list compared to July 2023 prices. Last month Mexico transitioned between avocado varietals, dropping their overall production which may explain the 51% price increase. Reports from the market are expecting this swing to even out after August.
Food, beer, wine and liquor costs as a percentage of sales dropped slightly from last month for MarginEdge customers in July, with food costs averaging 28% of sales.
All regions performed better throughout the month of July, with the biggest increases in sales coming from the West and Midwest. Better weather, air quality and national celebrations helped bolster sales across the country last month.
We're looking forward to August's numbers as families take their last vacations before school starts up again. See you in September!