According to an Axios analysis, casual dining restaurants like Chili's and Texas Roadhouse noted significant same-store sales increases of 14.8% and 9.3% respectively, while some fast-food chains are struggling to maintain growth amid rising costs.
Cava's CEO, Brett Schulman, emphasized that despite rising food prices, their chain's price increase of only 12% has enhanced their perceived value in a market where 78% of consumers now view fast food as a luxury.
Wingstop's CEO, Michael Skipworth, mentioned that the company's stable pricing strategy has yielded positive results, showcasing how disciplined menu pricing can lead to sustained success even in inflated markets.
Yum! Brands' CEO, David Gibbs, stated that providing consumers with affordable options is now more critical than ever, reflecting a shift in strategy as price sensitivity rises among customers.
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