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Why The Cheesecake Factory Is Jacking Up Prices

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A slice of pumpkin cheesecake is arranged for a photograph at a Cheesecake Factory Inc. restaurant in Louisville, Kentucky, U.S., on Wednesday, Nov. 13, 2013. Last month The Cheesecake Factory Inc. reported total revenues of $469.7 million in the third quarter of fiscal 2013 as compared to $453.8 million in the prior year third quarter. Photographer: Luke Sharrett/Bloomberg via Getty Images | Bloomberg via Getty Images

Supporters of a higher minimum wage applauded the Gap’s (GAP) decision last week to increase hourly pay. While Lynn Albright, vice president of the company’s Old Navy brand, told CNN there wouldn’t need to be higher prices if costs can be lowered by, say, reducing staff turnover, the effects of such decisions often do trickle down to customers.

Read the whole story at Bloomberg Businessweek