Weekends are still busy for many dinner-and-entertainment chains. Whether companies are able to keep customers coming during the off-peak days will likely shape their 2024 performance, says Joshua Long, an analyst at Stephens.
“The battle for traffic is real,” he says.
The midweek slowdown could be an early crack forming in consumers’ willingness to spend on experiences—a key corner of the economy that has helped offset slowing spending on goods. Stressed consumers typically pullback on midweek spending to protect their weekend splurges before making other budget cuts, Long says.
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