I love chicken wings. I think there’s nothing more sacred than munching on a plate of wings with another person over wings and beer, with buffalo sauce dripping down your forearm to your elbows while you shoot the shit about… whatever. Wings give me hope and life. Wings give me peace. They are #relationshipgoals, they are the ultimate culinary joy.
Wings are also incredibly popular, causing prices to skyrocket at major wing chains like Buffalo Wild Wings.
Yesterday B-Dubs did it’s quarterly earnings call, laying out the state of the business. Turns out it ain’t great — The company is aiming to improve profitability by slashing $40 – $50 million in costs, which means layoffs at B-dubs around the country. Other efforts include “efficiently scheduling employee hours and reducing waste in sides and condiments,” according to the Star Tribune.
So, if you like wings and especially the wings at B-dubs, get ready for price hikes thanks to basic supply-demand economics. Chicken wing prices are already high compared to a decade ago. Get ready for them to pull a Creed and take it even higher. via the NY Post:
First-quarter earnings for the Minneapolis wings and beer chain came in well below analyst targets, sending shares down as much as 3 percent in after-hours trading.
“Stubbornly high” wing prices, coupled with the popularity of the chain’s “Half-Price Wing Tuesdays” promotion, cut into margins, CEO Sally Smith said.
The company projects wing prices to increase by as much as 10 percent, forcing it to evaluate other menu options. March Madness sales were also weaker than expected.
Wing night is about to become another casualty in America’s increasing cost of living. That will be a sad day for Bro-kind everywhere.
Enjoy it while you can before it becomes another bougie luxury.