Bar, Restaurant Profits Yo-Yoed In November: StatCan

Canadian bars and restaurants continue to see fluctuating profits and losses as those industries recover from the COVID-19 pandemic, according to a new report.

Statistics Canada says sales decreased on a seasonally-adjusted basis throughout the industry by 0.9 per cent in November 2022 to $7.3 billion.

The agency says seven provinces reported decreased sales, with the greatest drops in dollar terms being felt in Alberta, Ontario and British Columbia.

New Brunswick recorded a 1.1 per cent decrease, bringing in seasonally-adjusted profits of just over $119.2 billion during the month of November.

According to the report, prices for food purchased from restaurants also went up by 7.7 per cent in November 2022, and prices for alcohol served increased by 4.7 per cent.

“Labour shortages plague the industry while rising inflation in the subsector continues to put upward pressure on menu pricing, resulting in customers paying more to dine out,” reads the report.

But compared to one year ago, sales across the country still increased throughout the industry.

Stats Can says unadjusted sales were 15.6 per cent higher in November 2022 than the same time period last year.

Sales were up in each of the sub sectors, with full-service restaurants and limited-service restaurants having the largest dollar amount increases at 18.3 per cent and 10.5 per cent, respectively.

Meanwhile, special food services and drinking places saw the largest percentage increases at 34.8 per cent and 14.3 per cent, respectively.

The agency says each of the provinces showed an increase, with Ontario, Quebec and British Columbia making the top three for the largest increases in dollar terms.

Back at home, New Brunswick bars and restaurants recorded unadjusted sales of just over $114.5 million in November, a 12.5 per cent increase compared to October.