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Food and labor costs for restaurants in Texas have continued to grow, but the pace is slowing. New data from the Texas Restaurant Association (TRA) shows that the number of restaurants seeing increases in those areas dropped significantly in February compared to January.
The Texas Restaurant Economics Report, which is derived a survey of Texas restaurant operators in March, shows that food costs increased for 52 percent of restaurants in February, compared to 64 percent the month before. Labor costs climbed for 44 percent of restaurants, compared to 58 percent in January.
On the income side of the ledger, 47 percent of restaurants reported increased traffic and 53 percent showed increased sales.
“For Texas restaurants, February brought improvements across many factors from costs to menu prices to profitability,” said Emily Williams Knight, CEO of the TRA, in a statement. “Still, there’s no doubt many are still struggling, particularly compared to this time one or two years ago. Especially for those restaurants that are seeing higher check averages but slower traffic, now is a great time to consider branding opportunities that speak to value. Whether it’s limited time offers, bundling, or other discounts, we’re seeing these strategies pay off with repeat customers.”
TRA members can request the full report here.
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