not vested
IT'S A BULL MARKET IN EXPENSIVE STEAKS
Today, we highlight a unique economic "gauge"...
Regular readers know we check in on certain economic "bellwethers" from time to time. Many industries can tell us a lot about how money is flowing in America.
We often look for strength in areas like railway companies, ski resorts, and swimming pools to gain insight. Today, this idea is pointing us toward a high-end steakhouse chain...
Ruth's Hospitality Group (RUTH) operates more than 150 Ruth's Chris Steak House restaurants. The company is known for serving high-quality steaks, finished with butter, on a sizzling 500-degree plate. This level of service isn't cheap...
So when Ruth's is making money, it's a good gauge of consumer confidence. Last quarter, the company reported a big 15% jump in its sales from last year. And its profits surged 41%.
As you can see in the chart below, shares have ripped higher recently. They're up nearly 50% over the past year... and recently hit a fresh new all-time high. It's more proof that American consumers are confident today...
Source: Daily Wealth