Lynsi Snyder, President of In-N-Out, has made a commitment to keep prices unchanged at the beloved burger chain on the West Coast.
In an exclusive interview with TODAY, Snyder assured that the private company will not experience significant price hikes in California following the implementation of the state’s new minimum wage law. The Fast Act, which came into effect on April 1, now guarantees fast food workers a starting wage of $20 an hour, up from the previous standard of $16.
During VP meetings, Snyder passionately advocated against raising prices, arguing that it would be unfair to their customers. He felt a strong sense of responsibility to protect their best interests.
According to Snyder, the company will not consider mobile ordering options as they impede the customer service experience. Furthermore, she stated that there is no interest in franchising or becoming a publicly traded company.
According to the New York Post, a burger at an In-N-Out location in Los Angeles has recently seen a price increase of 25 cents, while the price of a drink has gone up by 5 cents.
McDonald’s, Chipotle executives announce price hikes
Snyder’s stance on In-N-Out’s pricing strategy marks a departure from how some of its competitors have responded since the implementation of the Fast Act.
During a conference call in November, McDonald’s CEO Chris Kempczinski acknowledged that the company would implement price increases to counterbalance the wage hikes. Additionally, the company plans to reduce restaurant expenses and enhance productivity.
McDonald’s CEO, Chris Kempczinski, acknowledges that franchisees in California will experience a temporary decline in cash flow. While it is difficult to determine the exact impact due to various mitigation efforts, he emphasizes that there will indeed be a financial setback.
During a conference call at Chipotle, Chief Financial Officer Jack Hartung mentioned that the Mexican grill chain is anticipating a price increase in California. He stated that the increase would likely be in the “mid-to-high single-digit” range. However, he also made it clear that a final decision had not yet been reached.
According to a report by Business Insider, two prominent Pizza Hut operators made the decision to lay off over 1,200 delivery drivers in the state just before the Fast Act came into effect.
In-N-Out, the popular fast food chain, has made a promising commitment in response to the California minimum wage law. As other businesses are forced to raise prices and cut staff, In-N-Out has taken a different approach. The company has pledged to maintain its prices and continue providing quality service to its customers. This decision sets them apart from their competitors and showcases their dedication to both their employees and customers. In-N-Out’s unwavering commitment to their values is commendable and will surely be appreciated by their loyal fanbase.
