This article on steak prices and restaurant profit is fascinating but also seemingly full of errors. In one illustration, a NYC restaurant made $25-$40 profit per $54 steak in 2019, and $43-$48 per $70 steak in 2025. But later on it reads, “Gibsons currently pays around $25 for a 13-ounce New York strip steak, and charges customers $70 for it. The same steak cost around $16 in 2019, and Gibsons would need to charge $89 for it today to keep prepandemic profit margins.” Both cannot be true.
Why a $500 Steak Dinner Only Yields a $25 Profit
Steakhouse owners dish on their challenging economics as meat and labor costs grow
wsj.com