From CNBC: 2024-12-13 11:39:26

Red Lobster has closed its Torrance, California location as part of a tough year for restaurants. Consumers, facing rising food prices, are eating out less, leading to slower sales and increased competition. The winners in 2024 have been chains focusing on value, chicken, and fast-casual dining, while fast food and burgers have struggled.

Amidst bankruptcy filings and decreasing traffic, restaurants have engaged in value wars and innovation to attract customers. Winners like Taco Bell, fast-casual chains, and Chili’s have seen success. Losers like fast food chains and casual dining restaurants have faced challenges, with some even filing for Chapter 11 bankruptcy.

The industry’s biggest chains have been divided into winners and losers based on their strategies to attract customers in a challenging market. Consumers have shifted their spending habits due to rising food prices, leading to slower sales and increased competition. Winners have focused on value, chicken, and fast-casual dining, while fast food and burgers have struggled to maintain traffic and sales.



Read more at CNBC: Restaurant winners and losers include McDonald’s, Chili’s, Taco Bell