Americans are returning to one of life's simple pleasures—dining out.
From Brinker International Inc. to McDonald's Corp. to Starbucks Corp., restaurant chains are serving more customers. That's boosting bottom lines and increasing confidence that the worst is firmly in the rear-view mirror.
"Consumers are more confident today, dramatically more confident today then they were especially one year ago," Chipotle Mexican Grill Inc. co-Chief Executive Montgomery Moran said on a conference call Wednesday. "It looks like the consumer is out spending again."
Chipotle's first-quarter profit rose 49%, with sales up 16% from a year earlier, including new restaurants, and increased customer visits. Former parent McDonald's posted a first-quarter earnings gain of 11% on revenue that rose 10%, with U.S. sales pitching in with a 1.5% gain over a year ago. Starbucks said more customers were coming through its doors for the first time in more than two years, pushing up sales at stores open a year by 7% over last year.
To read the rest of the story, please go to: The Wall Street Journal.
Photo courtesy of Reuters.
