Risk Factors Update Summary
- The Company completed two sale-leaseback transactions in 2023, leasing back 18 properties, impacting restaurant sales.
- A new loyalty program is planned for 2024 to transition to a points-based system.
- A fast-food restaurant minimum wage of $20 per hour will go into effect in California.
- The Company's common stock price fluctuated between $39 and $63 per share in 2023.
- The Company's authorized share repurchase program is temporarily suspended.
- Labor shortages may disrupt staffing levels, increase costs, and impact the Guest experience.
- Changes in wage laws and benefits may increase labor costs and impact financial performance.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1171759&owner=exclude
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