And in Case You’re Wondering Who’s Benefiting From Lower Gas Prices – It’s Restaurants
By Steve Blumenthal, CEO, CMG Capital Management Group
Put this chart in the “curious” category. CNBC has been asking CEO after CEO if lower gas prices are showing up in sales. The consensus answer is no. In fact, the latest retail sales data shocked to the downside. I continue to believe the overriding problem is too much debt.
With gas savings on everyone’s mind, I found this chart in an NDR research report titled, Are Consumers Eating Their Gas Savings? Anyway, if you were wondering, like me, who might be seeing a pickup in sales it looks to be the restaurant industry (especially domestic restaurants).