"Despite occasional high-profile exceptions, more Biglaw firms are mandating in-person work, with three members of the Am Law 50 recently announcing four-day requirements. While their potential customer base may increase as a result of these moves, some go-to lunch spots for office workers are facing big economic challenges. As noted today by Business Insider, fast-casual chains like Chipotle, Cava, and Sweetgreen have recently reported fewer visits from younger customers, and a drop in their stock price has followed."
"In earnings calls, the companies cited economic pressure, like higher unemployment and increasing costs, as a factor harming sales among Gen Z and millennials. (The recent emergence of "slop bowls" as a term for their products probably isn't helping either.) In the short term, though, this dynamic might bring an upgrade to the ubiquitous desktop salad. As Business Insider reports, Sweetgreen's CEO has described a turnaround plan that includes bigger servings of chicken and tofu, pricing changes, and other improvements."
More Biglaw firms are imposing in-person work mandates, with three Am Law 50 members recently requiring four days on-site. The resulting increase in office attendance could expand the customer base for nearby restaurants, but many go-to lunch chains face steep economic challenges. Fast-casual brands such as Chipotle, Cava, and Sweetgreen have reported fewer visits from Gen Z and millennial customers and sharp stock declines—Chipotle down 26%, Cava down 27%, Sweetgreen down 21%. Executives attributed the slowdown to economic pressure, including higher unemployment and rising costs. Sweetgreen plans menu and pricing changes, including larger chicken and tofu servings.
Read at Above the Law
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