Michelle Korsmo

Finding a solution to the penny problem was particularly important to restaurant operators because more than a quarter of annual industry sales are made in cash.

We appreciate Congress passing the Common Sense Act to address the issues restaurant operators have been working through since the penny shortage started, said Michelle Korsmo, president and CEO of the National Restaurant Association.

Now that penny production has come to an end, operators want to have confidence they are handling costs.

the transition in a way that works for their customers.

That has huge implications for the industry.

Let's bring in Michelle Korsmo.

She is president and CEO of the National Restaurant Association, and she joins us from Washington.

Michelle, obviously the industry is grappling with a lot of headwinds.

Really appreciate you both joining us today to take a closer look.

Michelle Korsmo, the CEO of the National Restaurant Association, and Nick Setian, the Managing Director, Restaurants Equity Research at Mizuho.