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Restaurants squeezed by economy, price-conscious consumers
June 10, 2008
The Atlanta Journal-Constitution: Restaurants, including fast-food operations, are trying to balancerising costs with keeping customers satisfied.
At the same time, revenue growth is slowing as consumers become more budget-conscious, selecting lower-priced dining options or choosing to dine at home instead.
Chicago-based restaurant consulting firm Technomic projects retail sales for the U.S. food service industry to grow only 2.2 percent this year, down from a 3.8 percent increase in 2007. Fast-casual and fast-food restaurants began to experience a slowdown in the first quarter of this year.
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