ORLANDO, Fla. -- With Valentine's Day on a Sunday this year, restaurants likely will be jampacked, but it could mean wilting sales for florists and jewelers.
Eateries say they've booked up fast for the entire weekend. Some couples, unable to snag a place at their favorite restaurants, have even resorted to making Monday reservations.
IBISWorld, a California-based research company, predicts an 8.2 percent increase in money spent dining out this year, to $8.5 billion. Presidents Day on Monday makes it a three-day weekend, so IBISWorld expects more sweethearts to take romantic getaways, further boosting restaurant sales. But that will come at the expense of other types of gifts, which tend to sell better when Valentine's Day falls during the week.
Many restaurants are opening early, but procrastinators may have a problem reserving tables this late. At Hue in Thornton Park, Fla., general manager Neal Barton said reservations were snatched up more quickly than last year.
The sour economy means many Americans still aren't sweet on spending. A survey by the National Retail Federation showed the average amount people intend to spend for Valentine's Day -- $103 -- is virtually flat compared with last year. In 2009, the amount dipped $20 compared with 2008.
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This year, the NRF predicts more lovers will give practical gifts, such as clothing, and it sees declines in spending on gifts such as jewelry.
"I think it's a case of people buying gold instead of diamonds, or silver instead of gold," spokeswoman Kathy Grannis said. "We'll see people trading down in jewelry."
IBISWorld predicts about a 5 percent decline in the amount spent on jewelry and flowers.
