El Pollo Loco CEO Can't Rule Out a Price Increase on Higher Wage Costs

El Pollo Loco is preparing for higher minimum wages in California next year and may have to consider raising prices for consumers when the higher wages go into effect. CEO Steve Sather also told TheStreet's Rhonda Schaffler that the restaurant chain had to recently raise prices to cover increased poultry costs, but chicken prices should drop by the fall. Sather said the company is moving forward with expansion plans and is focusing on the Houston and Dallas markets, with an eye toward eventual national expansion. Sather also said he feels 'very good' about the first quarter.