White Castle CEO Lisa Ingram on how inflation and labor shortages have impacted her business, which was America’s first fast-food hamburger chain.
The CEO of America’s first fast-food hamburger chain said the U.S. labor shortage has hit some locations harder than others.
“In some of our locations, it is maybe more challenging than others,” White Castle CEO Lisa Ingram said on FOX Business’ “Mornings with Maria.”
However, Ingram remains optimistic about her company’s hiring prospects and expansion plans despite the pandemic.
“When you’ve been around for 100 years, you’ve seen great labor markets and you’ve seen more challenging labor markets,” she explained.
BIGGEST WHITE CASTLE EVER COMING TO FLORIDA TOWN
White Castle, which is celebrating its 100th anniversary this year, has begun selling food in grocery stores and is continuing to open new locations.
View of patrons at a White Castle fast food restaurant as they dine at the outdoor patio on Queens Boulevard in Queens, New York, New York, September 1980. (Photo by Walter Leporati/Getty Images) | Getty Images
Ingram also discussed inflation concerns and the potential impact on consumers.
Last month, the Labor Department said that core inflation, which excludes food and energy prices, rose 5.4% year over year in July, matching the prior month’s gain as the fastest since August 2008.
Prices increased 0.5% last month, slowing from June’s 0.9% increase. Analysts surveyed by Refinitiv were expecting a 0.5% gain.
The Labor Department reported that the price of food increased by 3.4% from the year before.
Data for the consumer price index for August is scheduled to be released on Tuesday. It is expected to show a 0.4% increase from the previous month.
White Castle CEO Lisa Ingram on economic trends in the food industry and celebrating her company’s 100th anniversary.
Ingram pointed out that “in some areas, we’ve had to raise prices.”
“That’s not something that’s new just this year. We’re always looking at our prices and making adjustments based off of different costs that we have,” she explained to host Maria Bartiromo.
She also believes rising labor costs and commodity prices for meat have contributed to this trend.
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FOX Business’ Jonathan Garber and Megan Henney contributed to this article.
Read More:White Castle CEO says US labor shortage ‘more challenging’ at some locations
2021-09-13 16:10:32
