NEW YORK (
Black Friday is expected to lure 138 million shoppers to U.S. shopping malls this week, up 4% from 2009, and mall-based restaurants are counting on them to get hungry.
"Restaurants should clearly benefit from
Black Friday," said Sterne Agee managing director Lynne Collier.
that restaurant chains with a large percentage of their stores in malls are poised to do well this holiday shopping season because "restaurant dining is not as much contingent on how much customers buy but whether or not they're out."
Collier tapped casual dining chains like
P.F. Chang's China Bistro
California Pizza Kitchen
as restaurant concepts with a bulk of their stores inside or near shopping malls. As a result, Collier believes they are more likely to get the Black Friday bump as the discount hunting for holiday gifts gets underway.
Quick-service restaurant chains like
Jack in the Box
-- often found in mall food courts -- are also likely to benefit to some degree, Collier said, but to a lesser extent than the casual dining chains.
Quick-service restaurants will see some residual benefit but not as substantially as casual dining chains."
Restaurant gift card sales will pad the group's sales even further. Americans are expected to spend an average of $145.61 on gift cards this holiday season, according to the National Retail Federation. Just over 33% of shoppers surveyed by the trade group said they will give their friends and family members gift cards to restaurants.
That could amount to $8.28 billion of expected gift card sales this holiday season.
Retailers' discounting on Black Friday should help the restaurant group," she added. "You will have more consumers out and about...as many people out and about shopping is a good thing for the restaurant group."
-- Written by Miriam Marcus Reimer in New York.
>To contact the writer of this article, click here:
>To follow the writer on Twitter, go to
>To submit a news tip, send an email to:
READERS ALSO LIKE:
Get more stock ideas and investing advice on our sister site,
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.