Lower Beef Prices Help Boost Profit at Texas Roadhouse
The price for uncooked beef steaks has come down recently, helping earnings at restaurant chains such as Texas Roadhouse Inc. The Louisville, Kentucky-based company on Monday reported fourth-quarter profit that topped analysts’ estimates and said lower beef prices would help boost performance in 2016. Steak prices in January fell to $7.47 a pound, the lowest since October 2014.