Celebrity chef says restaurant-goers are still seeing high menu prices because of this 'No. 1 problem' [FOX Business Network]
The ONE Group Hospitality, Inc. (STKS)
Last the one group hospitality, inc. earnings: 3/26 04:05 pm
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Source: FOX Business Network
After restaurant stocks served up a mixed earnings bag this season, one Iron Chef America alum is revealing the "No. 1 problem" that's keeping their prices high and overall profits low. "The number one problem for us is controlling labor cost," Chef David Burke said on " The Claman Countdown " Wednesday. "There's employees out there, so many employees, they're commanding top dollar, but not necessarily the top talent." "There's lots of turnover, there's lots of benefits that are associated, depending on whether you're in the city or the suburbs," he continued. "So labor becomes an issue and the training, losing an employee costs a lot of money because of the amount of effort you put into training." April's consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – indicated that year-over-year prices for beef climbed 7%, vegetables up 2.3%, sugar increased 4.3%, while seafood, cheese and eggs were down by single-digit percen
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- Celebrity chef says restaurant-goers are still seeing high menu prices because of this 'No. 1 problem' [Yahoo! Finance]Yahoo! Finance
- Despite Fast-paced Momentum, The ONE Group Hospitality (STKS) Is Still a Bargain Stock [Yahoo! Finance]Yahoo! Finance
STKS
Earnings
- 5/7/24 - Miss
STKS
Sec Filings
- 6/7/24 - Form S-3
- 6/4/24 - Form 4
- 5/23/24 - Form 4
- STKS's page on the SEC website