APT Launches Restaurant Index; Comps Fall 0.6% in FebruaryMarch 20th, 2014 | Posted by in Restaurants
Applied Predictive Technologies (APT) today announced that U.S. restaurant sales for the month of February fell [-0.6%] nationwide. But despite the overall February decline, the APT Index, which compares this year’s sales to the same period last year, indicated a “polar thaw” as increasing temperatures were followed by an increase in sales comps.
In the first half of February (2/1 to 2/14), the average temperature was 35°F and sales comps were [-2.2%]. However, in the second half of the month (2/15 to 2/28), average temperature climbed to 43°F and sales comps grew to [+0.9%].
The APT Restaurant Index enables restaurant executives to understand their “true comps.” Instead of simply looking at year-over-year changes, restaurant organizations can now compare each of their location’s sales to restaurant performance in the area surrounding their locations. These insights enable executives to understand if their restaurants are actually under- or over-performing, adjusting for local market factors outside of the control of decision-makers.
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