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Texas Roadhouse Gets Cooked on Earnings Miss as Labor Costs Rise

Rob Lenihan

hit the skids Tuesday, tumbling 11% to $54.35, after increased labor costs caused the restaurant chain to miss Wall Street's first-quarter earnings and sales expectations. Comparable-restaurant sales increased 5.2% at company restaurants and 4.3% at domestic franchise restaurants. "Despite our ongoing sales strength, our profits continue to be pressured by higher labor costs," President Scott Colosi said in a statement.