Buffalo Wings & Rings CEO Nader Masadeh discusses increased chicken wing costs
Wing prices are soaring, and that's causing franchise brands like Buffalo Wings & Rings to take the price increases head on - however, the Cincinnati-based elevated sports restaurant franchise also sees opportunity in the situation. Recently, CNBC spoke with Buffalo Wings & Rings CEO Nader Masadeh about the fact that wings are 40 percent higher than their ten year average.
"Our product for bone-in, and actually even boneless, are both fresh, never frozen. What that means is that they're both commodities. The pricing is changing every week. So we never know what the price will do every week for both bone-in and boneless," Masadeh told CNBC.
Buffalo Wings & Rings has been open for more than 30 years so has seen these ebbs and flows before, and the company thinks these higher wing costs will price some competitors out of the market. The company created a chicken wing task force to deal with the higher wing prices at their more than 60 locations across the U.S.
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