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However, as several restaurants are adopting advanced technologies and increasing digital offerings to adjust to the new normal, the industry should witness solid sales growth this year and beyond. According to the National Restaurant Association, food and beverage sales in the restaurant and foodservice industry are expected to be $789 billion in 2021, up 19.7% year-over-year.
So, it may be wise to bet on fundamentally strong restaurant stocks such as Dine Brands Global, Inc. (NYSE:DIN), Chuy’s Holdings, Inc. (NASDAQ:CHUY), and RCI Hospitality Holdings, Inc. (RICK). They have a ‘Strong Buy’ rating in our POWR Ratings system along with an A or B grade for Quality.
