Texas Roadhouse Gets Temporary Relief for Beef Costs
Dow Jones08-10 23:12
11:11 ET--Texas Roadhouse is seeing the rise in beef costs slow down, but it's not because there has been much improvement with cattle supply, Benchmark analysts say. The analysts note that the relief in beef inflation is more related to lower demand for high-quality cuts at grocery stores. The company expects commodity inflation to be 5% for the year, implying that the roughly 7% inflation in the first half of the year will come down to 3% in the second half. Still, there has been "no real progress" with rebuilding the cattle herd, which would be a longer-term fix for beef prices, the analysts say.
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