Texas Roadhouse Might Raise Prices Again In October
Texas Roadhouse is booming this year. The chain's great success and high foot traffic may not avoid another price increase later this year.
In the second quarter of 2023, same-store sales rose 9.1% and consumer traffic rose 4.7%.
Texas Roadhouse had a great first quarter, with record visitor counts and 12.9% same-store revenue growth.
"There is no doubt that our guests continue to support our commitment to serving made-from-scratch food in a fun and friendly atmosphere,"
Despite strong sales, the chain's profit margins have been low. Labor and beef prices have cut Texas Roadhouse's restaurant revenues.
Morgan didn't rule out boosting pricing to cover rising costs on the previous results call.
"We will continue to monitor it," he added of beef pricing. Our menu features it. It's current business costs.
Morgan said Texas Roadhouse will shortly discuss price increases with restaurant operators. If the corporation raised pricing,
he didn't say how much. Texas Roadhouse did not immediately react to our price increase inquiries.
Texas Roadhouse may raise prices again in October. The second quarter of 2023 saw a 2.2% price increase. For an affordable chain, a 2.2% price increase is significant.