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How Fogo de Chão is preparing for expansion and a possible IPOHow Fogo de Chão is preparing for expansion and a possible IPO

Holly Petre, Assistant Digital Editor

March 16, 2023

 

Commodities inflation and cost of labor increases are two universal problems that have been plaguing the restaurant industry since the COVID-19 pandemic began to wane. But for upscale dining brands like Brazilian steakhouse chain Fogo de Chão, traffic has been growing as guests have returned to their habits of dining out, and the company has figured out a way to stay overstaffed (not just adequately staffed), while navigating supply chain costs and not having to resort to exorbitant price increases.

While it sounds like Fogo’s good fortune is too good to be true, especially when compared to their industry colleagues, CEO Barry McGowan is confident that commodities and menu flexibility and above-average staffing rates has set the stage for the brand’s enormous growth potential.

About the Author

Holly Petre

Assistant Digital Editor

Holly Petre is a digital editor for Nation’s Restaurant News as well as the host of NRN’s podcast, Extra Serving, and producer for Informa Restaurant and Food Group’s other three podcasts, One On One by Food Management, Off the Shelf with SN and In the Kitchen with Bret Thorn. Holly holds a Bachelor of Fine Arts with a concentration in Sculpture, fibers and Material Studies and Ceramics from the School of the Art Institute of Chicago. A native New Yorker, Holly enjoys her place on staff as the resident pop-culture expert and millennial with a sassy attitude and great sense of style.

Holly Petre’s work on Nation’s Restaurant News and Restaurant Hospitality often covers marketing and trends, either aimed-at or examined-through the millennial mindset. Holly is responsible for introducing TikTok and Twitch to NRN and RH readers as well as explaining terms like “Karen” to staff and readers alike. She also spends her time on staff trying not to make every headline a pun.

Holly Petre hasn’t spoken at any events or on panels, but she is readily available with a killer shoe wardrobe and several witty quips.

 

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