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Non-Tech : Biglari Holdings, Inc.
BH 75.50+5.9%Aug 7 4:00 PM EDT

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To: smaycs4 who wrote (702)8/7/2017 10:41:03 PM
From: smaycs4   of 724
 
I understated the food cost increase. For the most recent quarter, when they upgraded their bacon & cheese, the food cost increase was more dramatic. 30.9% versus 27.6%. For the 6 months, it was 29.9% versus 27.6%, I think.

Below is the actual wording...

"Cost of food in the second quarter and first six months of 2017 was $61,402 or 30.9% of net sales and $115,803 or 29.9% of net sales, respectively, compared to the second quarter and first six months in 2016 of $56,567 or 27.6% of net sales and $110,559 or 27.6% of net sales, respectively. The increase as a percent of net sales during 2017 was primarily attributable to increased commodity costs, including beef prices. During the second quarter of 2017, Steak n Shake enhanced the quality and quantity of bacon and cheese on its Steakburgers. "
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