Texas Roadhouse Might Raise Prices Again In October
Texas Roadhouse's popularity grew this year. The chain's great success and high foot traffic may not avoid another price increase later this year.
The company reported 9.1% same-store sales growth and 4.7% customer traffic growth in Q2 2023. Texas Roadhouse's first quarter saw record
"There is no doubt that our guests continue to support our commitment to serving made-from-scratch food in a fun and friendly atmosphere,"
The chain has had a strong sales streak, but low profit margins. Texas Roadhouse's restaurant revenues are being cut by rising beef and labor costs.
In the latest results call, an analyst asked if Texas Roadhouse will raise pricing to offset rising costs. Morgan didn't rule it out.
"We will continue to monitor it," he added of beef pricing. "Our menu features it heavily. It's current business costs. We must be careful with pricing to maintain
Morgan said Texas Roadhouse will shortly discuss price increases with restaurant operators. He didn't say how much
prices could rise if the corporation did. Texas Roadhouse did not immediately react to our inquiries about price increases.
In October, Texas Roadhouse could raise prices for the second time in a few months. Starting the second quarter of 2023, the corporation hiked prices 2.2%.
Texas Roadhouse customers can hope beef and labor prices drop in the coming months. Alternatively, they may have to accept higher steak dinner prices