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On Tuesday, the June consumer price index report fueled more worries about inflation, which could hit restaurants just as they are preparing for higher demand coming out of the pandemic.
The index for food away from home rose 4.2% -- the highest 12-month increase since May 2009. For the week of July 12, shares of The Chefs' Warehouse (NASDAQ: CHEF) , Shake Shack (NYSE: SHAK) , and United Natural Foods (NYSE: UNFI) were down 10.7%, 13.6%, and 9.2%, respectively, as of 2:15 p.m. EDT on Thursday.