Monday March 4, 2024, 10:34:13
By Mark Kalinowski
Late last year, California’s Governor Gavin Newsom signed into law a revised version of Assembly Bill (AB) 1228. This act creates a so-called Fast Food Council that will have nine voting members on it. Our bottom line: as expected, the business-unfriendly members outnumber the business-friendly members. As such, expect the minimum wage for most quick-service and fast-casual employees in California to go up by +3.5% annually. This suggests that the minimum wage for these employees could get to at least $23.75 per hour as of January 1, 2029.
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Thursday February 15, 2024, 11:04:04
By Mark Kalinowski
Data out today from the U.S. Census shows that restaurants’ market share (with grocery stores/supermarkets making up the other component) was 55.9% in January 2024. This 55.9% figure ties the all-time monthly record, and is up by +90 basis points on a year-over-year basis.
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Tuesday February 13, 2024, 09:10:25
By Mark Kalinowski
The latest Consumer Price Index (CPI) data shows that prices for food-at-home (grocery stores and supermarkets) rose by +1.2% in January (sequentially down by -10 basis points from December’s +1.3%). This +1.2% number compares with price for food-away-from-home (restaurants) that increased by +5.1% year-over-year in January (sequentially down by -10 basis points from December’s +5.2%). This marks the 11th month in a row for which restaurant pricing is outpacing grocery/supermarket pricing.
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