Yahoo Finance published this video item, entitled “Brinker CEO: Falling restaurant traffic offset by sales jump” – below is their description.
Brinker International (EAT), the parent company of restaurants Chili’s and Maggiano’s Little Italy, tops its fourth-quarter earnings estimates while reporting noticeable price hikes on its menu items and decreasing customer traffic. Brinker International CEO Kevin Hochman sits down with Yahoo Finance Live to discuss the narrative behind the company’s sales data and consumer spending patterns. “The traffic was down, but the sales were considerably up,” Hochman says. “And what that tells you is that the people that are coming are spending for experiences and spending for more premium things, and I think it’s a function of coming out of the pandemic.” Hochman outlines his company’s barbell approach to menu pricing and reinvestment into advertising campaigns. “The fact that we have unbeatable value, especially for a younger guest, that’s something we got to make sure that we’re telling that story,” Hochman says on reaching younger customers through value deals and advertising.
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