Will In-N-Out increase prices in the face of California's minimum age law? – Business News (Trending Perfect)


In-N-Out CEO Lynsey Snyder has pledged to protect prices at the West Coast's favorite burger chain.

Snyder said in a new interview with TODAY: NBC Today The private company will not see drastic price increases in California after the state's new minimum wage law. The Fast Act took effect April 1, giving fast food workers a starting wage of $20 an hour, up from the previous standard of $16.

“I would sit in VP meetings saying, ‘We can't raise prices that much, we just can't,'” Snyder said. “Because I felt such an obligation to look out for our customers.”

Snyder also said the company will not explore mobile ordering options because they hinder the customer service experience. It also expressed its unwillingness to franchise or become a publicly traded company.

An In-N-Out location in Los Angeles recently raised burger prices by 25 cents and drinks by 5 cents, New York Post mentioned.

In-N-Out location in Hesperia, California.

McDonald's and Chipotle managers announce price hikes

Snyder's insistence that In-N-Out will not raise prices is a departure from the approach some competitors took after the Fast Act took effect.

On a conference call in November, McDonald's CEO Chris Kempczinski said the company would increase prices to offset wage increases, in addition to cutting restaurant costs and improving productivity.



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