Texas Roadhouse Inc. is raising its menu prices by about 1% in July, as the country steakhouse battles higher food and labor costs, not to mention typical growing pains.
Texas Roadhouse will complete the roll-out of higher prices across the menu by the middle of next month, said founder Kent Taylor at an investor conference Wednesday. The company already raised prices an average of 1% in March, which was the first increase in almost two years.
Some locations took 2% increases in March, while others didn’t raise prices, so the upcoming changes should balance the increases among its roughly 350 restaurants, said Chief Financial Officer Scott Colosi.
“We got a great read and great flow-through on the pricing increases in March, so we are very comfortable taking this pricing in July,” Colosi said. The company’s April same-store sales were up 5.4%.