Popeyes CEO Says ‘Life Will Go On’ With $15 Minimum Wage

cheryl-bachelder-popeyes-ceo

Popeyes Louisiana Kitchen CEO Cheryl Bachelde is taking the whole $15 minimum wage battle in stride.

“Everybody in retail is dealing with an increase in minimum wage,” said Bachelder. “We will adjust to increased costs just like we have before. Life will go on. There’s been too much hubbub about it.”

Bachelder said it’s not really that productive for her, Popeyes store owners or others in the industry to spend time worrying about increased calls for a $15 minimum wage.

 

“Labor costs are going up. When Target, Walmart, and McDonald’s moved wages higher, the marketplace moved with them,” Bachelder said. “I’m a big believer in free markets and the market has acted.”

 

That’s not to say she is excited about a $15 minimum wage, she is just placing her efforts into dealing with the issue before it arrives.

“We are used to making adjustments over time. Going to $15 an hour overnight is not plausible,” she said.

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Popeyes eported an 8% increase in profits for the third quarter on Wednesday — despite a 16% increase in costs related to employees.

The overall message from Popeyes’ CEO: GET OVER IT!

 

Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.