Technomic Annual Report shows strong performance among Top 500 Restaurants

Technomic Annual Report shows strong performance among Top 500 Restaurants
October 27, 2004

CHICAGO, Oct 28, 2004 (BUSINESS WIRE)-- The 500 largest U.S. chain restaurant companies grew sales 5.6 percent in 2003 with U.S. systemwide sales reaching $173 billion, according to foodservice consulting firm Technomic Inc.'s 2004 Technomic Top 500 report. This is the industry's first ever ranking of the Top 500 restaurant chains. In 2003, the Top 500 chains represented nearly 60 percent of restaurant industry sales, a proportion that has increased every year for decades. To a large extent, the Top 500 chains in 2004 are the restaurant industry. Remarkably, the Top 10 growth chains (by sales increase) represent 55 percent of the dollar growth of the Top 500. McDonald's accounted for nearly 20 percent of all Top 500 sales growth, which grew $1.8 billion in 2003. When it comes to unit count growth, Subway led the way by adding almost 2,000 outlets and accounting for 28 percent of all Top 500 unit growth. The fast-casual subsegment of Limited Service, known for its quality food, handsome decor and higher price points, has steadily garnered market share over the past several years. The fast-casual chains analyzed in the 2004 Technomic Top 500 grew sales over 16 percent in 2003. Specifically, Asian fast-casual chains grew over 51 percent. The 2004 Technomic Top 500, unlike its predecessors, focuses exclusively on chain restaurants. It provides chain sales and unit data, year-to-year changes, rankings and segment analysis to help industry observers objectively identify the industry's leaders. To learn more or to order a copy, please visit www.foodpubs.com or contact Chris Urban at 312-876-0004, ext. 229 (curban@technomic.com). About Technomic Inc. Technomic Inc. provides food and foodservice clients with the research, insights and strategic consulting support they need to enhance their business strategies, decisions and results. Its services include category and channel analyses, customer satisfaction studies, opportunity assessments, benchmarking programs and brand equity enhancement. source:Technomic Inc.