Direxion Daily S&P 500 Bear 3X Shares (SPXS)

[barnyarddog]

stagflation is begging to bite

Restaurant Recovery Fried As "Business Conditions Worse Now Than Three Months Ago"
https://www.zerohedge.com/markets/restaurant-recovery-fried-business-conditions-worse-now-three-months-ago

... soaring food inflation, labor shortages, and logistical nightmares that have made some restaurant items nearly impossible to obtain.

....95% of restaurant operators say their restaurant experienced supply delays or shortages of key food or beverage items during the past three months.

...Costs are up – 91% of operators are paying more for food; 84% have higher labor costs; 63% are paying higher occupancy costs, but profitability is down – 85% of operators reported smaller margins than before the pandemic.

A separate study by small business networking site Alignable, conducted between Aug. 28 and Sept. 27, found that most restaurants (51%) were unable to cover their September rent.