For the first time, Americans spent more at restaurants than at the grocery store

A first

Restaurants dethrone homemade meals. Fast food is more than back. In March 2015, restaurant sales surpassed grocery store sales. This is a first according to the Department of Commerce, which has begun collecting these statistics since 1992. The operator of Olive Garden and Capital Grille reported its fifth consecutive quarter of sales growth and raised its financial outlook for 2016. This year, the S&P 500 of restaurant stocks has seen a 25% rise. McDonald’s, which is orchestrating a shift toward healthier foods, has seen its shares rise 28% this year. Wendy’s shares are up %. Meanwhile, casual fast-running chains like noodles & Co. (down 58%), chipotle (down 15%) and Zoe’s Kitchen (down 7%) are on the decline.

Source: Bloomberg