The nation’s 500 largest restaurant chains garnered a 4.9% sales increase in 2012 for a total of $254 billion, up $12 billion over sales figures for 2011. Technomic reports this is a significant increase compared to the 3.5% increase in sales reported the previous year.
“It is certainly encouraging to see overall industry growth rates return to levels not seen since 2007," said Ron Paul, president of Technomic. “On a chain-by-chain basis, however, performance still varies substantially as organizations continue adapting their value proposition to meet consumer demands and refining operations to meet various industry challenges."
Sales at limited-service restaurants increased 5.6%, with the highest growth categories listed as Asian, Bakery Café and Mexican. Segment leaders include Panda Express at 19.8% sales growth, Panera Bread at 12.3%, and Taco Bell witnessing 8.3% sales increase. McDonald’s, the largest U.S. restaurant chain, increased its sales 4.2% for an annual total of $35.6 billion. The nation’s second largest chain is Subway, followed by Starbucks, Wendy’s and Burger King. Within the fast-casual Mexican segment Chipotle Mexican Grill racked up a 20.2% sales growth for 2012.
Full-service restaurants grew 2.9%, up slightly from 2.8% for 2011. Steak and seafood categories exhibited the most health growth with increases of 5.9 and 4.5%, respectively.
The top 10 fastest-growing chains with sales of over $200 million accounted for $10.3 billion in sales for 2012, a 22% increase over 2011, with unit counts growing at 15%. The top 10 include Dickey’s Barbecue Pit, Firehouse Subs, Jersey Mike’s Subs, Raising Cane’s Chicken Fingers, Jimmy John’s Gourmet Sandwich Shop, Cheddar’s Casual Café, Buffalo Wild Wings, Chipotle Mexican Grill, Yard House and Panda Express.
More than 60% of the top 500 restaurant chains posted at least a small sales increase with only 168 of the chains witnessing sales declines in 2012 compared to 193 in 2011.
