Texas Roadhouse locations nationwide will be raising menu prices in the near future. The decision comes on the heels of the Louisville-based company’s fourth quarter earnings report, which was released earlier this week.
The report shows that while restaurant sales increased 5.6 percent, labor and food costs are on the rise. To offset these rising costs, the restaurant chain will initiate a 1.5 percent menu price increase in April.
“Looking ahead to 2019, our development pipeline is in great shape as we expect to open 25 to 30 company restaurants and as many as eight franchise restaurants,” said Kent Taylor, Chief Executive Officer of Texas Roadhouse, Inc. “While we expect to face continued cost pressures in the near term, we remain excited about the top-line momentum that our operators have generated.”
Texas Roadhouse has more than 510 locations in 49 states and 17 international locations in seven foreign countries. The restaurant averages 5,000 guests per week and serves 300,000 meals per day.