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CKE CEO criticizes dollar menus
July 6, 2008
Forbes: The chief executive of Carl's Jr. and Hardee's parent CKE Restaurants Inc. has said the fast-food industry's dependence on dollar menus to attract customers threatens franchisee profits and ultimately could lower food quality.
"When you lock yourself into a price point, you're screwing up your future because commodity costs are going to increase," said Andy Puzder, CKE chief executive.
Carpinteria, Calif.-based CKE, which also operates the Green Burrito and Red Burrito chains, has been incrementally raising prices to offset higher costs. It is contemplating another bump as commodity prices, particularly for beef, head higher, Puzder said.
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