Texas Roadhouse sees FY23 Wage and other labor inflation of 6% to 7%

Management reiterated the following expectations for 2023: Positive comparable restaurant sales growth including the benefit of menu pricing actions; and, Commodity cost inflation of 5% to 6%. Management updated the following expectations for 2023: Store week growth of approximately 6% including the impact of franchise locations acquired; As many as 28 Texas Roadhouse and Bubba’s 33 company restaurant openings; Wage and other labor inflation of 6% to 7%; An effective income tax rate of 13% to 14% excluding the impact of any legislative changes enacted; and, Total capital expenditures of approximately $300 million.