O frabjous day! Callooh! Callay!'
December 10, 2014
Report: Restaurant same-store sales growth slows in November
“It wasn’t a good month,” MillerPulse cofounder Larry Miller said. “It took sort of a turn for the worse. It’s surprising and unexpected. It seemed like everything was picking up and comparisons weren’t any harder.”
Out of curiosity, was there any surprising and unexpected weather in November?
Miller suggested that a cold snap that hit much of the country in the middle of the month might have kept some people at home.
I knew it! Cold weather! In November! For part of the month! Oh, the humanity!
But given the overall improvement of the economy, Miller said the result was still a surprise.
Everyone loves parabolic surprises! I bet you can't wait to see what's coming next!
“It honestly doesn’t add up,” he said.
You know what really doesn't add up? Sustainable restaurant employment parabolas! Rumor has it that if restaurants keep expanding at the rate that they are, then eventually same store sales cannot keep up. I know! It's crazy math! Which idiot started the rumor? Me! Right now! Woohoo!
The following chart shows the 12-month moving average of the annual change in the number of food services and drinking places employees.
Click to enlarge.
Pardon my language, but nice @#$%ing parabola.
I'm sure glad the unintended parabolic consequences of ZIRP were confined to the subprime oil industry though. We certainly don't want anything bad to happen to 10.8 million restaurant jobs. Like the shale industry, restaurants are one of our best growth industries since the bottom fell out of our economy. It's amazing what "cheap" money and intense competition can do.
’Twas brillig, and the slithy toves! Did gyre and gimble in the wabe: all mimsy were the borogoves, and the mome raths outgrabe!
I can't speak for you, but I am most outgrabed by the absurdity of it all. Sigh.
St. Louis Fed: Custom Chart
Jabberwocky by Lewis Carroll