Many of the leading restaurant stocks, today, were pulling back at the start of the trading session. The catalyst for today's pullback in the restaurant sector has to do with the weak retail-sales report. Higher payroll taxes seem to be taking their toll on retail sales and that will certainly have a negative effect on the leading restaurant stocks. Higher gasoline and energy costs are also a tax on the public, which has yet to be reported by the mainstream media.
On The Menu
Leading restaurant stocks such as Panera Bread Co. (PNRA), Chipotle Mexican Grill, Inc.(CMG), McDonald's Corporation (MCD), and Darden Restaurants Inc. (DRI) are just a few of the names in the restaurant sector that are pulling back today. Many traders and investors should know that consumer spending accounts for roughly 70% of the gross domestic product (GDP) in the United States. Less money in the hands of the consumer will ultimately hurt everything in the retail sector.
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Weak Retail Sales Hit Restaurants
Published 02/13/2013, 02:25 PM
Updated 07/09/2023, 06:31 AM
Weak Retail Sales Hit Restaurants
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