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Best sales growth in decade forecast for B.C.


November 4, 2014
By Canadian Pizza

Topics

Nov. 3, 2014, Vancouver
– Restaurants Canada
forecasts British Columbia's foodservice industry to lead the country with a
7.5 per cent jump in total sales to $8.9 billion – the best sales
growth in well over a decade.

Nov. 3, 2014, Vancouver
– Restaurants Canada
forecasts British Columbia's foodservice industry to lead the country with a
7.5 per cent jump in total sales to $8.9 billion – the best sales
growth in well over a decade.

These results follow years of lacklustre growth caused by the recession and introduction of the HST.

“The
harmonized sales tax took a toll on restaurant sales, but that’s behind
us now,” said Mark von Schellwitz, Restaurants Canada’s Western Canadav vice-president, in a news release. “A healthier economy, a less tax-prohibitive business
environment and pent-up consumer demand has put the province’s
restaurant industry back on track as a top employer and economic
driver.”

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Since
2000, the province’s restaurants have created 21,000 jobs for British
Columbians for a total of 170,000 jobs, said the release, making the restaurant
industry the third-largest, private-sector job creator in B.C. 

Despite
this remarkable comeback, restaurants in B.C. continue to struggle with
one of the lowest average pre-tax profit margins in the country.

“Our
restaurants can only do so well, due to the above-average costs for
rental and leasing, as well as labour,” said von Schellwitz. “Sales may
be off the charts, but the cost of doing business in the province
continues to be a challenge.

Compare sales growth by province for 2014