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Stock impact report

High-end steakhouse closed over 80% of its restaurants [Yahoo! Finance]

Texas Roadhouse, Inc. (TXRH) 
Last texas roadhouse, inc. earnings: 2/20 04:03 pm Check Earnings Report
Company Research Source: Yahoo! Finance
"Although inflation is slowing, cost-conscious consumers are eating more at home or at lower-cost fast-food restaurants, where the average check is $7.92, about half the average check at a sit-down restaurant, according to CREST , a database from consumer insight firm Circana, Time reported. Across restaurants and retail dining, consumers are not cutting back entirely. They are trading down within categories, shifting spending from premium experiences to lower-cost alternatives that still feel like a treat. That has caused problems for sit-down restaurants. “A whole lot of these companies are finding their sales aren't turning out to be as strong as expected,” Jim Sanderson, a restaurant industry analyst for Northcoast Research, told Time. Customer traffic at full-service restaurants in the third quarter of 2024 was down 3% from a year ago and is 17% below the same period in 2019, according to CREST. While the overall number of restaurants has climbed, a number of chains ha Show less Read more
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