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Report: Restaurant visits to slip as prepared foods gain traction
Chicago -- Home meal replacements or prepared foods from supermarkets, drug stores and other retail outlets will continue to capture share of the meal/snacks market by stealing visits from restaurants, according to a recent study by The NPD Group.
Its recent foodservice forecast through 2022 indicated that instances of prepared food purchased at retailers for at-home consumption will increase by 10% over the next decade compared to a 4% increase forecast for commercial foodservice traffic.
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Gap same-store sales beat expectations
San Francisco – Gap Inc. substantially improved upon its June 2012 same-store sales performance and beat analyst expectation with a 7% increase in same-store sales last month. In comparison, the retailer’s same-store sales were flat in June of last year and were only expected to rise 4.7% in June of this year, according to estimates from Retail Metrics.
Sales at Gap’s Old Navy helped drive the overall increase. Same-store sales at Old Navy rose 13% in June as a result of seasonal summer promotions.