Restaurants across California are reportedly implementing menu price hikes following the state's increase in minimum wage for fast-food workers.
This surge in prices has been observed at various fast-food and fast-casual chains throughout the Golden State, outpacing other regions, according to a report from the WSJ, which cited market research firm Datassential.
Since September, when California mandated large fast-food chains to elevate their minimum hourly pay to $20 by April, restaurants statewide have collectively increased prices by 10%.
Notably, this increment surpassed the price adjustments seen in other states, according to Datassential's analysis of over 70 major chains, the report noted.
Chipotle Mexican Grill Inc (NYSE:CMG), for instance, disclosed a 6% to 7% price surge at its nearly 500 California locations during the first week of April compared to the previous year.
Chipotle's Chief Executive Brian Niccol highlighted the challenges imposed by the state's regulations.
In response to the wage law, major fast-food chains like McDonald's Corp (NYSE:MCD), Jack in the Box Inc (NASDAQ:JACK), and Shake Shack Inc (NYSE:SHAK) have planned to raise prices, estimating significant additional labor costs per restaurant, as per the report.
Despite opposition from some quarters, the wage law remains supported by advocates like California Governor Gavin Newsom. They argue that increased wages will benefit workers and stimulate local economies.
As consumers reassess their spending in light of escalating prices, independent eateries emerge as viable alternatives. The California wage law doesn't apply to restaurants with less than 60 national locations.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
據報道,在加州提高快餐業工人的最低工資之後,加州各地的餐館都在提高菜單價格。
《華爾街日報》援引市場研究公司Datassential的報道稱,金州各地的各種快餐和快餐連鎖店都觀察到價格的上漲,超過了其他地區。
自9月份加利福尼亞州要求大型快餐連鎖店在4月之前將其最低時薪提高到20美元以來,全州的餐館已將價格共同提高了10%。
報告指出,值得注意的是,根據Datassential對70多家主要連鎖店的分析,這一增幅超過了其他州的價格調整。
例如,Chipotle Mexico Grill Inc(紐約證券交易所代碼:CMG)透露,與去年相比,4月第一週其加利福尼亞近500家分店的價格上漲了6%至7%。
Chipotle首席執行官布萊恩·尼科爾強調了該州法規帶來的挑戰。
報告稱,針對工資法,麥當勞公司(紐約證券交易所代碼:MCD)、Jack in the Box Inc(納斯達克股票代碼:JACK)和Shake Shack Inc(紐約證券交易所代碼:SHAK)等主要快餐連鎖店已計劃提高價格,估計每家餐廳將大幅增加勞動力成本。
儘管有人反對,但工資法仍然得到加利福尼亞州州長加文·紐瑟姆等倡導者的支持。他們認爲,提高工資將使工人受益並刺激當地經濟。
隨着消費者在價格上漲的情況下重新評估支出,獨立餐館成爲可行的替代方案。加利福尼亞州的工資法不適用於在全國範圍內開設少於60個地點的餐館。
免責聲明: 該內容部分是在人工智能工具的幫助下製作的,並由Benzinga編輯審閱和發佈。