In regards to Black Box’s second question, it appears Morgan’s sentiment has plenty of company.
Higher pay in another industry: 14 percent
Higher pay through unemployment 57 percent
Better quality of life in another industry: 20 percent
Health or customer management concerns due to the pandemic: 4 percent
Other: 5 percent
Where restaurants’ mindset is on this labor topic is crystal. The $300 UI expansion is countering recovery efforts from a staffing perspective. The demand is there, but operators are struggling to satisfy it.
Restaurants told Black Box enhanced unemployment, tax refunds, and stimulus checks are gathering as the perfect storm.
One Fair Wage released a report Wednesday, along with the UC Berkeley Food Labor Research Center, that claimed low wages and tips were, by far, the most popular reason for leaving the restaurant industry, more than 20 percentage points higher than the second most popular reason COVID health risks. The vast majority (78 percent
Author Bio
Reuben Gregg Brewer believes dividends are a window into a company s soul. He tries to invest in good souls.
What happened
Shares of homebuilder
Meritage Homes (NYSE:MTH) advanced an even more impressive 15.5% or so. Meanwhile shares of retailer
Gap (NYSE:GPS) increased in value by 11%, and restaurateur
Texas Roadhouse (NASDAQ:TXRH) jumped by 11.5%.
At first blush there are very big differences among these companies, which is clearly the case. However, there s also something important connecting them all the coronavirus pandemic. Or, more to the point in April, the ongoing recovery from this frightening health scare.
Image source: Getty Images.
A&P Commission discusses hamburger tax
Mayor Copenhaver wants more information before making a decision on the tax
Jonesboro Advertising and Promotions Commission discuss a hamburger tax By Imani Williams | May 3, 2021 at 7:00 PM CDT - Updated May 3 at 7:27 PM
JONESBORO, Ark. (KAIT) - For the first time in over a decade, talks about a new tax are back that could add a few dollars to your bill if you eat out.
The Advertising and Promotions Commission brought up a prepared food tax better known as a hamburger tax.
The discussion started when the commission looked over projected expenses and revenue.
Texas Roadhouse (
TXRH) - Get Report served up better-than-expected first-quarter earnings Friday with the restaurant chain s results exceeding pre-pandemic levels.
Shares of the Louisville, Kentucky, company were climbing 2.62% to $106.43 on Friday.
Texas Roadhouse reported net income of $64.2 million, or 91 cents a share, up from net income of $16 million, or 23 cents a share, a year ago. Analysts expected earnings of 59 cents.
Revenue totaled $800.6 million, up 23% from a year ago, and came in ahead of the FactSet consensus of $745.8 million. A year ago today, all of our dining rooms were still closed and while we knew brighter days were ahead, we never could have anticipated where we are today, the company said in a statement.