Fast-Food Workers Are Getting a Raise in California. 2 Big Downsides. [MarketWatch]
Yum! Brands, Inc. (YUM)
Last yum! brands, inc. earnings: 4/29 07:00 am
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Source: MarketWatch
Advertisement The new rule, signed into law last September, was a compromise between California Governor Gavin Newsom, major industry groups, and a powerful union representing hundreds of thousands of fast-food workers in the state. Rising labor costs could push the fast-food industry, including its thousands of franchisees, to further raise prices in the state that already has some of the highest living expenses in the nation. But higher prices can be a tough choice in an economy with already-sensitive consumers. Fast food, especially, remains one of the areas with stubbornly high inflation rates, even as grocery prices have cooled down. “We've already had to raise prices a few times over the past three to four years,” says Johnson. “Every time we do that, it hurts business.” Focus Brands, the parent company of Auntie Anne's and Cinnabon, didn't immediately respond to a request for comment. Losing Customers Since the new minimum wage only applies to fast-food workers, re
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YUM
Sec Filings
- 4/26/24 - Form 8-K
- 4/16/24 - Form 4
- 4/15/24 - Form 144
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