SHAK - Restaurant recovery hits a wall in November

Restaurant sales came in weak for November, according to data from Knapp-Track. Restaurant same store sales were down 22.6%, including a down 22.8% traffic and up 0.2% check. The sharp deceleration from the -14.8% decline in October is being attributed to colder weather and COVID-19 spikes across the U.S. The general trend since March has been for incremental improvement in sales. Bank of America's restaurant sector breakdown: "The casual dining industry has proven remarkably adaptable to the pandemic backdrop and liquidity concerns from March and April have shifted to questions about long-term profitability. There is near-term pressure from COVID-19 spikes as many states and cities re-shutter restaurants and bars and colder weather provides an additional headwind. Restaurants also traditionally run higher sales volumes in December that drive outsized profitability, a dynamic that is hurting y/y comps more than weekly changes in absolute sales dollars. Despite these dynamics, most full-service chains

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Restaurant recovery hits a wall in November