FOR IMMEDIATE RELEASE
July 11, 2012
TORONTO – Restaurant sales are in better shape this year than expected. According to the latest forecast by the Canadian Restaurant and Foodservices Association (CRFA), annual restaurant sales will rise 4.2% in 2012 to nearly $53 billion – which is higher than the 2.9% forecasted last December – due to a healthy first quarter.
Canada’s restaurant industry enjoyed better-than-expected sales in Q1 thanks to a mild winter and an extra day in February.
“The upward forecast is good news not only for restaurateurs, but for communities across Canada. With more than one million employees, the restaurant industry is the number one source of first-time jobs, which are particularly important for students at this time of year,” says Garth Whyte, CRFA’s President and CEO.
Here’s CRFA’s outlook for Canada’s restaurant industry in 2012:
Including non-commercial foodservice sales – at locations such as schools and hospitals –Canada’s restaurant industry will surpass $65 billion in 2012.
CRFA is one of Canada’s largest business associations, with more than 30,000 members representing restaurants, bars, caterers, institutions and other foodservice providers. Canada’s $63-billion restaurant industry employs more than one million people in communities across the country.
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