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Why Dutch Bros Got Burned Today

TheMotleyFool

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Why Dutch Bros Got Burned TodayPhoto, wide shot, wide-angle lens, Home decor store, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/1f534af1-8f1f-47f4-aa9f-66269ecafb79.png

Shares of Dutch Bros (NYSE: BROS) fell 7.6% on Tuesday after the California legislature passed a bill creating a new wage board that would set minimum starting salaries for fast-food restaurants in the state at as much as $22 per hour.

The drive-thru coffee chain operates over 100 locations in California, about 20% of its stores. Rising labor and commodity costs were already impacting performance, and this initiative presents yet one more hurdle.

Image source: Getty Images.

Source Fool.com

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