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-0.000617919670442866 -0.000998970133882682 -0.00144181256436664 -2.05973223487785E-06 0.00144181256436664 0.00514933058702369 -0.000308959835221433 0.011534500514933
Stock impact report

Hooters, Red Lobster and TGI Fridays: Why casual restaurant chains are in trouble [CNN]

Chipotle Mexican Grill, Inc. (CMG) 
Last chipotle mexican grill, inc. earnings: 4/21 04:10 pm Check Earnings Report
US:NYSE Investor Relations: ir.chipotle.com
Company Research Source: CNN
Hooters filed for bankruptcy this week, the latest casual dining chain to go belly up. Red Lobster, TGI Fridays and Buca di Beppo also filed for bankruptcy in the last year. Meanwhile, sales at Denny's Applebee's Outback Steakhouse Bonefish Grill Red Robin and Cracker Barrel's are dropping, and they are shuttering hundreds of restaurants. Casual dining chains typically cater to lower and middle-income families looking for a sit-down meal, but diners are abandoning these companies as their disposable income shrinks. These restaurants have been hiking menu prices at the same time their customer base has been squeezed by the rising cost of living. Since 2019, restaurant prices have increased 34%, outpacing the overall growth of inflation during that same period, according to Bureau of Labor Statistics data “They're trying to aim at the average middle consumer,” said Ernest Baskin, an associate professor of food marketing at Saint Joseph's University. “When consumers start watching t Show less Read more
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