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"Consumers still see steak as an upscale experience, which is why TXRH could boom." Bryan Bottarelli, Head Trade Tactician, Monument Traders Alliance Consumer spending has been on the decline, with January 2025 numbers showing the first monthly drop in nearly 2 years. The decrease was driven by a pullback in spending on goods, particularly motor vehicles and clothing. But if the dip in spending continues, there's one food chain I could see taking off. That food chain is Texas Roadhouse (TXRH). According to research from Technomic, Texas Roadhouse just became the biggest casual dining chain, surpassing Olive Garden (who held the top spot since 2018). While foot traffic at all other full-service restaurants declined by 0.2% in 2024, Texas Roadhouse actually saw their traffic increase by 7.2%. Why is this happening? Analyst Jim Salera explained it like this: "There's something about steak that it really rings true to the consumer as still being kind of an elevated or a premium consumption or dining experience." So, even with a recession, consumers still want to eat out at steakhouse – but they'll scale back their expenses – which lands them at a chain like Texas Roadhouse. | 
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