Look, I I think when you step back at a macro basis, uh you know, our small business job index uh really has remained relatively stable in 2025. Uh really with we also see continued moderation in wage inflation. When what we reported today is our same store workforce levels for our clients.Now that's more broadly across our entire base, not just the small market, which is 50 employees and less. That's essentially flat for the quarter. Um what we see is continued challenges particularly in the small end of t ...

Core Viewpoint - Texas Roadhouse, Inc. reported financial results for the 13 and 39 weeks ended September 30, 2025, showing revenue growth but a slight decline in net income and diluted earnings per share compared to the previous year [1][2][3]. Financial Results - Total revenue for the 13 weeks ended September 30, 2025, was $1,436.3 million, a 12.8% increase from $1,273.0 million in the same period last year [2]. - For the 39 weeks ended September 30, 2025, total revenue reached $4,396.0 million, up 11.7% from $3,935.4 million [2]. - Income from operations for the 13 weeks was $96.9 million, down 5.0% from $102.0 million [2]. - Net income for the 13 weeks was $83.2 million, a decrease of 1.5% from $84.4 million [2]. - Diluted earnings per share for the 13 weeks were $1.25, down 0.8% from $1.26 [2]. Comparable Restaurant Sales - Comparable restaurant sales increased by 6.1% at company restaurants for the 39 weeks ended September 30, 2025 [3]. - Average weekly sales at company restaurants were $157,325, with to-go sales accounting for $21,409, compared to $149,176 and $18,914 in the prior year [3]. Restaurant Margin - Restaurant margin dollars increased by 1.1% to $204.3 million from $202.1 million in the prior year, while the restaurant margin percentage decreased by 168 basis points to 14.3% due to commodity inflation of 7.9% and wage inflation of 3.9% [3][7]. - For the 39 weeks, restaurant margin dollars increased by 4.1% to $700.9 million from $673.1 million, with a margin percentage decrease of 118 basis points to 16.0% [7]. Capital Allocation and Growth - The company opened seven new restaurants during the reported period, including five franchise acquisitions [3][5]. - Capital allocation included expenditures of $128.9 million, dividends of $45.1 million, and stock repurchases of $40.0 million [3]. Dividend Declaration - The Board of Directors approved a quarterly cash dividend of $0.68 per share, to be distributed on December 30, 2025 [9][18]. 2025 and 2026 Outlook - For the first five weeks of the fourth quarter of 2025, comparable restaurant sales increased by 5.4% compared to the same period in 2024 [6]. - The company implemented a menu price increase of approximately 1.7% at the beginning of the fourth quarter [6].