America's most popular steakhouse will be reevaluating prices soon.
While the chain has been on quite a sales streak, its profit margins have been a different story. Elevated costs for labor and beef have been shaving away at Texas Roadhouse's restaurant-level profits. And if things continue to get worse, customers may have to foot the bill for those inflated costs.
During the recent earnings call, an analyst asked if Texas Roadhouse would consider raising its prices to offset the elevated costs—and Morgan didn't rule out the possibility. "We will continue to monitor it," he said of the beef prices."It's a big part of our menu. It is the cost of doing business right now. We do need to be very cautious and careful on the pricing to make sure that we are continuing to drive our value component and then deliver on the experience."
Texas Roadhouse will start working with its operators soon to decide on any potential price increases, Morgan said. However, he didn't offer any hints on just how much prices could go up if the company decided to raise them. Texas Roadhouse did not immediately respond to our queries for more details on the potential price increases.If Texas Roadhouse does decide to raise its prices in October, it will be its second price boost in recent months.
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