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0.000888099467140353 0.00384843102427479 -0.00296033155713444 -0.0035523978685612 -0.0035523978685612 -0.0035523978685612 -0.0035523978685612 -0.0035523978685612
Stock impact report

First Watch Stock Slips as Executives Warn of Egg Costs Hurting Margins [Yahoo! Finance]

First Watch Restaurant Group, Inc. (FWRG) 
Company Research Source: Yahoo! Finance
Executives said high egg prices could hurt the chain's margins, as they don't currently plan to raise prices or add an egg surcharge. CFO Mel Hope said the chain expects "high-single-digit percent" commodity inflation this year as the price of eggs, bacon, and coffee beans are rising. Shares of First Watch Restaurant Group ( FWRG ) dropped on Tuesday as the breakfast chain said it expects high prices of eggs and other commodities will likely pressure its margins this year. "Although we contract annually for our eggs, which ensures our supply and protects us from the most severe price volatility, the continuing impact of the avian influenza has necessitated that our egg supplier will be supplemented with purchases subject to spot market pricing," First Watch CFO Mel Hope said in Tuesday's earnings call, according to a transcript provided by AlphaSense. CFO Says Commodity Inflation Likely to Last Through This Year Hope said high prices of avocados, bacon, and coffee beans mea Show less Read more
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