As the Price of Beef Soars, Restaurants Are in ‘Code Red’ Mode
Midpriced steakhouses and fine-dining establishments are trying to figure out how to cover their rising costs without scaring away customers.
In early November, as Halls Chophouse was heading into the critical holiday season, its president, Tommy Hall, made a tough call: Prices at his steakhouse chain would go up.
The price of the popular eight-ounce filet mignon rose to $61 from $57. A rib-eye, to $85 from $82.
Beef prices had been climbing all year, and Halls found...
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