CRFA: Restaurateurs Show Market Optimism

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TORONTO — Despite a sluggish start to 2012, nearly 40 per cent of restaurant owners expect better sales during the next six months, according to the Canadian Restaurant and Foodservices Association’s (CRFA) Restaurant Outlook Survey.

“The restaurant industry continues to play a critical role in job creation, particularly when students are looking for summer jobs,” says Garth Whyte, president and CEO, CRFA. “This survey has good news for Canadians — restaurants will be hiring more people, creating economic and social benefits in communities across the country.”

During the first quarter of 2012, average restaurant same-store sales rose by less than one per cent, year over year. And, while the study showed an improvement in the restaurant industry’s optimism, many restaurateurs admit that rising food prices (71 per cent) and labour costs (60 per cent) remain a concern.

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