Wednesday, May 11, 2011

Let Them Eat 24% Cake

May 11, 2011
NPD: 76% Still Cutting Back on Dining Out

While the restaurant industry continues to see signs of slow recovery, more than two-thirds (76%) of U.S. consumers continue to report that they are reducing restaurant visits -- and that when they do dine out, they're trading down and ordering fewer items.

Some might even argue that 76% is more than three-fourths.

Those within the minority who are relatively unaffected by the economy also span all demographic groups, but -- not surprisingly -- are more likely to be employed, to live in affluent households, and to be generally more optimistic than those hurt by the recession.

7 comments:

Stagflationary Mark said...

Here's an unrelated bonus tidbit for those who like to read headlines and know exactly where the author stands.

May 10, 2011
Avoid this shambling, soulless wreck of a stock

What is Sears Holdings? It's a vehicle for losing money.

This blog likes (cringes) following Sears. It is a recurring theme. Why?

The stock's a stinker. If you like watching slow train wrecks, you can add Sears Holdings to your watchlist.

Exactly! This blog was founded on watching slow train wrecks, especially the trains headed straight for us. They are presented as lights at the end of the tunnel though. Go figure.

Mr Slippery said...

Some might even argue that 76% is more than three-fourths.

Maybe "Less that four fifths" would have been a more positive way to phrase it.

Sears was in decline before they bought K-mart. I'm not sure what they expected. It was like merging the Cincinnati Bengals with the Detroit Lions.

Stagflationary Mark said...

Mr Slippery,

Sears investors may find that more "fifths" won't make the problems go away, but they might dull the pain.

Mr Slippery said...

Well, Stag Mark, you have corrupted me. OK, it wasn't just you. I read a lot about what was happening in the volatile silver market and yesterday booked a sale with Kitco for all of my physical silver (minus a roll of mercury dimes because I like them).

That turned out well since silver dropped over 8% this morning. Does that make me a silver heretic?

If you said no, wait, it gets better. Before mailing my box of silver, I 2x shorted it with ZSL, then closed it out after getting back from the post office. Does that make me a silver hater?

Proceeds will go into gold and nickels.

getyourselfconnected said...

Nice moves Mr. Slippery!

I don't know what people "report" about dining out but the people here in mASSachusetts are always at the eating places big time. And they get big.

Stagflationary Mark said...

Mr Slippery,

Wow! If I am a silver heretic for no longer believing then I think that makes you a silver jihadist!

In the short-term, very well played.

Parabola riding rarely works out well in the end, but that doesn't mean that there can't be yet another even bigger parabola someday. That said, few ever went broke taking profits on the front end of a parabola.

Stagflationary Mark said...

GYSC,

I think you are onto something.

They put ASS in the state of mASSachusetts.

They put ASH in the state of wASHington. We did have a volcano erupt (Mt. Saint Helens) and cover this state in ash back in 1980.

They put TAN in monTANa which makes sense if you think of it as big sky country.

They put LAW in deLAWare. That might explain why the majority of public companies are incorporated there.

They put ILL in ILLinois. Illinois budget woes show no signs of easing.

They put KANSAS in arKANSAS. That must mean we aren't in Kansas any more. That would explain the popularity of yellow bricks (road).

They put SYLVANIA in PennSYLVANIA. It's not what you think though. It's just a burough of 200 people or so. It isn't like they make consumer electronics.

They put ASK in alASKa. "But obviously, we've got to stand with our North Korean allies." - Sarah Palin, November 24, 2010. I've always wanted to ask her WTF she was thinking.

This can't just be coincidence. ;)