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Log In / Register | Nov 19, 2017

Hurricane Harvey Batters Texas and Louisiana Restaurants

Hurricane Harvey has slammed restaurants in Texas and Louisiana, and the worst is yet to come. Not only are many eateries damaged and flooded, but their customers are already preoccupied with recovering from the storm and have less money to spend on eating out — conditions that will linger into the future.

  • "[Hurricane Harvey's] going to have a major impact on the [restaurant] industry," Bonnie Riggs, analyst with The NPD Group, told CNBC.
  • Restaurant brands that have a significant number of locations in the Texas and Louisiana area, stand to see sales shrink in the third quarter because of closures and displaced workers.
  • Evacuees returning to their homes in the aftermath of the storm will have a restricted disposable income and won't be spending on restaurants as frequently. — Sarah Whitten, CNBC

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