Boes to Newsmax: MAHA Push Drives 'Astronomical' Sales
Steak 'n Shake's chief MAHA officer, Michael Boes, attributed a 15% same-store sales growth to the chain's decision to drop seed oils, with recent quarters seeing up to 19% growth. Biglari Holdings, which owns the chain, reported 10.2% same-store sales growth for 2025, its best annual performance since 1992. Boes noted resistance from suppliers but found partners willing to adopt the change. The shift aligns with the MAHA movement, supported by Trump and Kennedy Jr.
How this was made
The 30-second read
Why it matters
The disclosed same‑store sales acceleration provides a new growth narrative for Biglari, potentially prompting a re‑rating.
Market read
First report of double‑digit same‑store sales growth could influence Biglari's stock and the broader casual‑dining sector.
What to watch
Potential supplier resistance and higher ingredient costs could temper long‑term profitability.
Background
Steak 'n Shake, owned by Biglari Holdings, launched a 'Make America Healthy Again' program to drop seed oils, claiming strong sales growth.
Market effects
May boost confidence in the casual dining sector and other MAHA‑aligned brands.
U.S. consumer‑discretionary stocks could see modest gains.
Limited to U.S. markets; no direct global impact.
Counterpoint
Skeptics may argue seed‑oil removal could raise costs and hurt margins, limiting upside.
Key entities
- ExecutiveMichael Boes
Chief MAHA officer at Steak 'n Shake.
- CompanyBiglari Holdings
Parent company of Steak 'n Shake, ticker BKH.
