Texas Roadhouse's Impressive 18.8% Stock Surge: Revenue and Same-Store Sales Propel Growth
Why Texas Roadhouse Stock Went Up 19% Last Month
The restaurant chain is outshining many of its casual-dining peers. Shares of casual-dining chain Texas Roadhouse (NASDAQ: TXRH) went up 18.8% during February, according to data provided by S&P Global Market Intelligence.
Key Highlights:
- Texas Roadhouse grew its Q4 revenue by 15% year over year to nearly $1.2 billion
- The company achieved a 10% growth in same-store sales in 2023
- About half of the same-store-sales increase was attributed to raising menu prices
- CEO Gerald Morgan described 2023 as another great year for Texas Roadhouse
Texas Roadhouse managed to increase restaurant traffic despite industry challenges of rising expenses and declining consumer dining trends in the casual-dining sector. The company's outlook for 2024 remains positive, with a focus on further same-store sales growth and expansion to open new restaurant locations.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.