Results, including promising 2012 outlook, to be released at Canadian Restaurant Investment Summit May 30 in Toronto
TORONTO, April 30, 2012 /CNW Telbec/ - As the economy moves from recovery to expansion, Canadians are expected to cautiously increase their spending at restaurants and the Canadian foodservice industry should grow modestly this year, according to the first annual Canadian Chain Restaurant Industry Review, an extensive research report commissioned by GE Capital and compiled by fsSTRATEGY and NPD Group Canada.
Some of the research findings:
- Canadian foodservice industry sales are expected to increase by 3.1% to CAD$65.4 billion in 2012.
- Visits to Canada's commercial foodservice industry remained relatively flat last year, growing just 1% over the prior year.
- Alberta was the fastest-growing market at 7.8%.
- British Columbia was the only province that experienced foodservice revenue declines.
The complete Canadian Chain Restaurant Industry Review will be provided to attendees of GE Capital's third annual Canadian Restaurant Investment Summit, which will be held May 30-31 at the Hilton Toronto Hotel. To review a detailed listing of program sessions or to register, please go to www.restaurantinvest.ca.
"For the first time, we're compiling a comprehensive analysis and factual overview of the state of chain foodservice in Canada," said Ed Khediguian, GE Capital's senior vice president of Franchise Finance. "These findings have implications for job growth, construction activity and other factors that will impact the economic health of Canada this year and for several years to come. They also shed light on consumer spending habits and trends from province to province."
The report includes insights from the C-suite executives of leading Canadian chains on important issues such as:
- The greatest opportunities and threats in the foodservice industry,
- Restaurant industry merger and acquisition opportunities,
- Expected changes in sales as well as labour and food costs, among other operating and occupancy costs, and
- The outlook on restaurant industry capital expenditures.
"We expect the Canadian Chain Restaurant Industry Review to be one of the many highlights of our strong program this year," Khediguian said. "In addition to presentations on important topics like growth and expansion strategies, and a behind-the-scenes look at some of the largest-ever restaurant acquisitions, industry experts will share their expertise and insights on a number of other issues with all attendees."
About GE Capital, Canada
With more than 20 offices throughout Canada, GE Capital (gecapital.ca) offers a wide variety of financial products and services to address commercial financing and fleet management needs in all phases of a business' lifecycle. From equipment finance to working capital and growth financing to large asset-based and restructuring loans, we apply our wealth of industry expertise and develop custom solutions for your company. Some of the industry sectors we specialize in include transportation, construction, healthcare, agriculture, forestry, manufacturing, oil and gas, wholesale and retail, and restaurant and hotel franchises.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at ge.com.
For further information:
GE Capital, Americas