1405 ET - New York City's proposal to raise the minimum wage to $30 an hour by 2030 could put a strain on fast-casual restaurants, TD Cowen analysts say. The analysts estimate the high minimum wage would represent a roughly 60% additional inflation to labor costs for restaurants in the city. The cost increase could put a 15% dent in restaurants' margins, the analysts say. The increase would present the biggest headwind to Sweetgreen and Shake Shack, which have 15% and 10% of their store footprint in New York City, respectively, the analysts say. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

March 30, 2026 14:05 ET (18:05 GMT)

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