TORONTO, Feb. 7, 2013 /CNW/ - Despite concerns about the economy in the
fourth quarter of 2012, most Canadian restaurant operators plan to
maintain or add to their current staffing levels, according to the
Restaurant Outlook Survey released today by the Canadian Restaurant and
Foodservices Association (CRFA). The Restaurant Outlook Survey for Q4
of 2012 shows 58% of restaurateurs believe a weak economy is affecting
their business, up from 45% in Q3. Nevertheless, 62% of operators plan
to hold employment levels steady for the next six months, while 16%
expect to hire more employees.
"Clearly our members had cause for concern given the economic
uncertainty late last year," says Garth Whyte, CRFA President and CEO.
"On the bright side, the U.S. has averted its fiscal cliff crisis,
which means consumer confidence should be improving."
Food costs moderate
Historically, rising food and labour costs have been the top two factors
affecting business in CRFA's survey. The weak economy took the number
two spot in Q4, moving labour costs to third place. While food costs
remain the biggest concern for operators, they were cited by 64% of
respondents in Q4 compared to 74% in Q3.
"Food costs are moderating, which gives the industry some comfort," says
Whyte. "However, they are still high on a historical basis. The good
news for Canadians is that most operators are planning to hold menu
prices and employment levels steady - which means restaurants will
continue to play a key role in communities across the country."
Other results from Q4 of 2012 show various factors affected the
26% of respondents reported weak customer demand;
23% were affected by bad weather, up from just 12% in Q3;
27% were impacted by rising gas prices, down from 35% in Q3; and
17% were hurt by the NHL Lockout.
About the survey
CRFA's Restaurant Outlooks Survey tracks business conditions for nearly
4,800 foodservice establishments across Canada. For more results, click here.
CRFA is one of Canada's largest business associations, with more than
30,000 members representing restaurants, bars, caterers, institutions
and other foodservice providers. Canada's restaurant industry employs
more than one million people in communities across the country.
SOURCE: Canadian Restaurant and Foodservices Association
For further information:
CONTACT: Prasanthi Vasanthakumar, 1-800-387-5649, ext. 4254 or firstname.lastname@example.org.