Saving Seafood

Food costs hurting restaurants, but Darden won’t raise prices

October 1, 2021 — Most U.S. restaurants are paying more for food, labor, and rent, according to a new survey, and a trade group representing the industry is concerned that the sector’s recovery will be pushed well into 2022.

The new National Restaurant Assocation survey found 91 percent of restaurant operators are paying more for food, 84 percent report higher labor costs, and 63 percent are paying higher occupancy costs. Additionally, 95 percent of restaurant operators said their restaurant experienced supply delays or shortages of key food or beverage items in the past three months. At the same time, restaurants’ profitability is down as 85 percent of operators reported smaller margins than before the pandemic.

Read the full story at SeafoodSource

 

US restaurants face staffing struggles, commodity price hikes

June 24, 2021 — Darden Restaurants’ sales spiked in its fiscal fourth quarter, but the overall restaurant industry continues to struggle due to ongoing effects from the pandemic, commodity price hikes, and a labor shortage.

Orlando, Florida, U.S.A.-based Darden Restaurants, which operates LongHorn Steakhouse, Olive Garden, Eddie V’s Prime Seafood, The Capital Grille, and many other chains, said its total sales for the fiscal fourth quarter jumped 79.5 percent to USD 2.28 billion (EUR 1.9 billion).

Read the full story at Seafood Source

Distributors and suppliers shifting focus to retail as restaurant profits plunge

March 23, 2020 — The reaction from U.S. consumers to the COVID-19 pandemic has scrambled how Americans are buying seafood. In response, U.S. foodservice distributors and seafood suppliers are shifting their focus away from a shriveling restaurant scene and putting more focus on supplying retailers.

As evidence of how badly restaurants have been hit by a crisis that has seen many restaurants forced to shift to take-out or close entirely, a number of major restaurant chains have announced significantly decreased earnings.

Read the full story at Seafood Source