Open Restaurants, Return to Work Leave Grocery Stocks in Limbo
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With restaurants resuming some dine-in services and more people returning to work, grocery stores are getting the short end of the stick.
The total grocery industry, which includes in-store shopping and delivery and meal-kit providers, saw an “across-the-board spending deceleration” of about 500 basis points for the two weeks that ended May 19 from the previous two weeks, according to M Science. Store-directed purchases, which exclude third-party delivery, dropped by about 300 basis points.