Food Service Worker Wages Still Trending Up -- Market Talk

Dow Jones06-21

0853 ET - Restaurant and foodservice industry workers are continuing to see single-digit percentage growth in their wages, according to some recent earnings reports. Darden Restaurants, owner of Olive Garden and LongHorn Steakhouse, reported 4% labor inflation in the spring quarter and is guiding for that rate to stay intact for the fiscal year that started at the end of May, Wedbush analysts Nick Setyan and Michale Symington say in a research note. At Chipotle Mexican Grill, wage inflation is expected to hit 6% for the quarter that ends this month due to the impact of California's wage-hike law for fast-food workers, the analysts say in a different note. (dean.seal@wsj.com)

(END) Dow Jones Newswires

June 21, 2024 08:54 ET (12:54 GMT)

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At Chipotle Mexican Grill, wage inflation is expected to hit 6% for the quarter that ends this month due to the impact of California's wage-hike law for fast-food workers, the analysts say in a different note. 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Darden Restaurants, owner of Olive...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0672654240.SGD","symbol_name":"FTIF - Franklin US Opportunities A Acc SGD-H1","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2445754458","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2445754458","pubTimestamp":1718974440,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0853 ET - Restaurant and foodservice industry workers are continuing to see single-digit percentage growth in their wages, according to some recent earnings reports. Darden Restaurants, owner of Olive Garden and LongHorn Steakhouse, reported 4% labor inflation in the spring quarter and is guiding for that rate to stay intact for the fiscal year that started at the end of May, Wedbush analysts Nick Setyan and Michale Symington say in a research note. At Chipotle Mexican Grill, wage inflation is expected to hit 6% for the quarter that ends this month due to the impact of California's wage-hike law for fast-food workers, the analysts say in a different note. 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