In-N-Out Prices Now Surge Due to California’s Minimum Wage

In-N-Out prices now surge due to California’s minimum wage increase according to a report published by The Orange County Register.

An In-N-Out Double-Double with fries and a drink now averages over $10 in California – before tax.

The latest price increase is because of the state’s new $20-per-hour minimum wage for fast food workers.

Concurrently, an increasing number of cities are considering raising their sales tax, reports The Register.

The wage increase, signed into law by Governor Gavin Newsom in September 2023, applies to fast-food chains with at least 60 locations.

Its impact is already reverberating through the industry, with major chains like Wendy’s, Chipotle, and Starbucks raising prices by up to 8% since April.

In-N-Out has historically paid its workers well.

It is also worth billions, owns most of its locations, and has flexibility because it’s a private company.

“Only one In-N-Out has ever closed and that was because of the obscene crime in Oakland.

So, In-N-Out isn’t going anywhere.

However, other businesses and many Californians aren’t as fortunate,” reports TOCR.

Angry customers have taken to Facebook to share their thoughts on the price hikes.

“The new normal sadly,” wrote one.

“Nah, not In-N-Out too,” said another.

“I’m just going to have to start cooking.”

But others said they would stay loyal to the famous chain.

One wrote: “This will not stop me from going!

“Their burgers are better than some other places and they treat their employees well. Great company!”

“That’s not a bad price. It’s worth it,” agreed another.

In-N-Out is far from the only chain that has increased menu prices in response to the new law.

Menu prices have risen by as much as 8.3% at restaurants like Chipotle, a study found.

Franchisees at Wendy’s chose to raise menu prices by an average of 8%, while others have made smaller price increases, including Taco Bell, reported at 3%, and Burger King, at 2%.

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

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Market News Today - In-N-Out Prices Now Surge Due to California's Minimum Wage.
Market News Today – In-N-Out Prices Now Surge Due to California’s Minimum Wage.

An unexpected restaurant now abruptly closes 7 locations in one state after revealing plans to shutter a total of 36.

TGI Fridays is closing a total of seven restaurants in one state as part of the company’s ongoing growth strategy.

This comes after the chain abruptly closed 36 locations across 12 states in at the beginning of the year, per The-Sun.

The restaurant chain will pull the plug on seven locations across the state of New Jersey in the coming weeks.

Today, Fridays will welcome in famished diners at its location in Brick for the final time.

“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” said Weldon Spangler, CEO of TGI Fridays earlier this week.

“We are at the helm of a pivotal moment that will allow us to explore boundless advancement, expansion, and innovation to keep delivering ‘That Fridays Feeling’ that our fans know and love.”

Before the closures, TGI Fridays had about 270 US locations, according to the company’s website.

“As part of the store closures, TGI Fridays is offering more than 1,000 transfer opportunities, which represents over 80% of total impacted employees,” the company previously said in a statement.

“Our top priority has always been delivering a superior experience for each and every TGI Fridays guest, and we’ve identified opportunities to optimize and streamline our operations to ensure we are best positioned to meet – and exceed – on that brand promise,” said Ray Risley, US president and chief operating officer, in the release.

Eight other locations were sold to former CEO Ray Blanchette, a longtime stakeholder who will acquire the previously corporate-owned restaurants.

The sale comes as major changes have been made to the brand’s leadership, including the news of Weldon Spangler being made CEO.

“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” said Spangler in a statement.

Also Read: Retirees Will Now Receive More Money For Social Security

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Market News Today - In-N-Out Prices Now Surge Due to California's Minimum Wage.
Market News Today – In-N-Out Prices Now Surge Due to California’s Minimum Wage.

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