Here are 5 ways fast-food restaurants in California are cutting costs to cover the new minimum wage [Business Insider]
El Pollo Loco Holdings, Inc. (LOCO)
Last el pollo loco holdings, inc. earnings: 4/30 04:05 pm
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Source: Business Insider
As well as raising prices, franchisees are laying off workers, hiring less, and turning to tech. Fast-food franchisees in California are desperately looking for ways to cut costs as the state's $20 minimum wage for workers at limited-service restaurants kicks in. Proponents of the legislation say that it will help thousands of workers with basic living costs. But fast-food chains and their franchisees worry about the impact that the wage hike could have on their profits. "As of today, I am well into the red," Michaela Mendelsohn, who owns six El Pollo Loco restaurants in California, told NBC Los Angeles on Monday, the day the new wage was introduced. "We are losing money, so we are going to need to stop the boat from leaking by making changes," she said. Some chains, including McDonald's and Chipotle, have said that diners in California should expect higher prices because of the legislation. But franchisees can largely set their own prices, and some are cautious about scari
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News
- El Pollo Loco Holdings, Inc. to Announce First Quarter 2024 Results on Thursday, May 2, 2024 [Yahoo! Finance]Yahoo! Finance
- El Pollo Loco Holdings, Inc. to Announce First Quarter 2024 Results on Thursday, May 2, 2024GlobeNewswire
- El Pollo Loco Holdings, Inc. (NASDAQ:LOCO) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future? [Yahoo! Finance]Yahoo! Finance
- El Pollo Loco Wraps Up Women's History Month with a Special Event Recognizing Women Who Lead, Inspire, and Empower [Yahoo! Finance]Yahoo! Finance
- El Pollo Loco Wraps Up Women's History Month with a Special Event Recognizing Women Who Lead, Inspire, and EmpowerGlobeNewswire
LOCO
Earnings
- 3/7/24 - In-Line
LOCO
Sec Filings
- 4/16/24 - Form DEF
- 4/3/24 - Form PRE
- 3/8/24 - Form 10-K
- LOCO's page on the SEC website