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Mall restaurants expect traffic decline
November 19, 2008
The Wall Street Journal: As retail traffic fell 12.4 percent in October compared with last year, restaurant chains with a bulk of their locations in malls and retail centers are bracing for a holiday shopping season that is expected to bring fewer potential customers past their doors.
Many restaurant chains have some units in malls, whether in the food court, elsewhere in the mall or as freestanding locations in the parking lot. Those with a greater percentage of their stores in malls are more susceptible to traffic declines, especially during the all-important holiday shopping season.
Among those are California Pizza Kitchen Inc., which has about 89 percent of its 251 restaurants in or near retail centers and malls.P.F. Chang's China BistroInc. is also exposed to downturns in retail traffic, analysts say.
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