US Restaurant Sales Drop as Gas Prices Impact Spending
High fuel costs linked to regional conflict are reducing restaurant traffic. Wingstop and Domino's reported weak growth as analysts cut sector profit forecasts.
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United States restaurant chains reported falling sales growth as gasoline prices rose 40% to $4.43 following the conflict involving Israel and Iran. The LSEG U.S. restaurant index has dropped 5% since February, erasing $40 billion in market value. Investors face shrinking margins as the $4.00-per-gallon threshold historically doubles the negative impact on consumer dining frequency.
