Restaurants in Texas have bounced back since the COVID-19 pandemic.
According to the Texas Restaurant Association, the new 2023 data shows resiliency but it also shows businesses aren't out of the woods yetannounced this week that the Texas food service industry has crossed the $100 billion yearly sales threshold for the first time, with 56,739 restaurant locations driving $106.8 billion in annual sales in 2023.
“The resiliency of Texas restaurants in the face of strong economic headwinds is a direct reflection of the growth mindset that we’ve successfully championed at the Texas Restaurant Association.” Emily Williams Knight, Ed.D., president and CEO of the TRA said.
At the same time, small businesses continue to lead the industry with 91% of Texas restaurants employing fewer than 50 people.Restaurants are an economic engine. For every dollar spent in a Texas restaurant, $2.35 is contributed to the state’s economy. Still, a recent survey conducted by the Texas Restaurant Association underscores that restaurants are making gains despite inflation and worker shortages. In January:Despite 64% experiencing food cost increases and 58% experiencing labor cost increases, 55% were able to keep their menu prices about the same.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon Spring Sale shaves $100 off the Bose SoundLink Revolve+ II; save $100 on one nowAmazon Spring Sale brings you the Bose SoundLink Revovle+ II at 30% off! Don't miss out on this top-notch offer and grab one while you can.
Read more »
Fanatics Sportsbook Promo Code: Bet $100 on College Basketball, Get $100 10X BackNo Fanatics Sportsbook Promo Code is needed to get up to $1000 bonus bets back from Fanatics. Just sign up and bet $100! You can earn 10x that amount back in bonus bets over 10 days.
Read more »
Inside Yo Gotti’s $100 Million Music EmpireI'm a senior writer and editor at Forbes, covering business and editorial lead at ForbesBLK. Previously, I covered business at CNBC, ranging from professional league media deals, sponsorships, labor agreements, and athlete portfolios.
Read more »
Climate-Fueled Extreme Weather Costs US Nearly $100 Billion a Year: StudyThor Benson is a staff writer for Common Dreams.
Read more »
Ethereum (ETH) Whale Nets Over $100 Million in Profits Amid Price RallyEthereum sees growing trend of large-scale accumulation amid price rally
Read more »
Fanatics North Carolina Promo Code: Get a free hat & $1K bonus bets w/ $100 depositYou can get a free hat and an additional $1,000 in bonus bets when you pre-register and make a cash deposit of $100.
Read more »