Many businesses have posted rising profits and 70-year-high profit margins since the pandemic. But executives have also talked openly in earnings calls about raising prices, and then saying the increases were due to inflation. And Lindsay Owens and her organization Groundwork Collaborative have the receipts to prove it. She joined LX News to talk about how many businesses are seeing inflation as a great opportunity to “leave no pricing on the table.”
The largest operator of Burger King franchise restaurants in the United States says the company is adopting a new tactic to get inflationary cost pressures under control -- less nuggets.
New York-based Carrols Restaurant Group, which operates more than 1,000 of the restaurants nationwide, told investors Thursday that Burger King was reducing the nugget count in a meal to 8 pieces from 10.
It's part of a broader corporate change in promotional and pricing strategy to rein in rising costs.
Over the course of 2021, Carrols said its food and labor costs rose more than 10% compared to 2020. That tracks with rising inflation throughout the country, affecting not just consumers but business operators too.
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It was not immediately clear when the changes took effect, or whether they'd be made throughout the country. As of Friday morning, for example, DoorDash users in northern New Jersey seeking a BK delivery for lunch only had the 8-piece option available.
