Many immigrant families are in lockdown or not working due to ICE enforcement, causing economic pressure that mirrors the pandemic.
Darden’s same-store sales have been up at most of its more casual restaurants. But same-store sales at its finer-dining restaurants were down.
Restaurant foot traffic has declined in the U.S. by 3%-3.5%. And expenses are way up.
Historically, when the economy gets rough, sales of lipstick go up. But for luxury beauty brands, that may not still be the case.
