This Is How Bad Things Really Are In The Economy
KingWorldNews.com
May 13, 2020
On the heels of the Dow tumbling over 500 points, this is how bad things really are in the economy.
Trouble For Restaurants
May 13 (King World News) – Gerald Celente: Restaurant Supplier’s Performance Bodes Ill for Sector: Sysco, which supplies food to restaurants, schools, hospitals, and other institutions, has dispensed with a third of its employees after seeing sales fall 6.5 percent in its most recent quarter, the worst performance in 11 years.
In mid-March, as economic lockdowns were being imposed, sales were down as much as 60 percent; restaurants now shuttered made up almost two-thirds of Sysco’s customers.
The company reported that sales ticked up in April, but most of the gains came from restaurants with drive-through windows, which tend to be larger chains.
Business remained virtually flat among smaller and independent restaurants, which could indicate that many will not be able to reopen when lockdowns are eased.
The Rest…HERE
