Measuring success or failure of a system that improves decision making is challenging in many respects. But, the Same Store Sales (SSS) metric can be useful, especially when applied to a long period of time, and across thousands of restaurants. SSS is caluclated as a percentage change from last year to this year, and only uses locations that are open for both years.
Every so often we stop to compare how Mirus clients are doing against the broader restaurant market, and some new data was released this week, so I though it would be a good time to check how our clients are doing.
For the past six months, Mirus clients have overperformed on Same Store Sales against the overall industry as measured by two of the most popular indices, BlackBox Intelligence and MillerPulse. The Mirus Restaurant Index compiles the sales and traffic for all Mirus clients.
The graph below lies these three metrics side by side from September 2016 through February 2017.
The graph tells a clear story. Mirus clients are growing same store sales, and the overall industry sales are in decline.
But, how much is the difference. My finance colleagues like to measure differences in percentages in "Basis Points". Each basis point is simply 1/100th of a point, so if your SSS is 2%, that is equal to 200 basis points.
The table below shows the additional basis points of sales increases Mirus clients enjoy over the industry as a whole.
|Mirus Restaurant Sales Index Variance compared to:|
|BlackBox Intelligence||MillerPulse / NRN|
|Variance expressed in Basis Points|
Now, who wouldn't want a few hundred more basis points on their SSS results next quarter?
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Mirus is a multi-unit restaurant reporting software used by operations, finance, IT, and marketing.
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