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Well, rising prices for staples like food due to tariffs and out gas following the start of the Iran war are certainly things are top of mind for folks who are going anywhere right now. So let's check in with Stuart Leonard Junior. He's president CEO of John Tucker's favorite market, Stu Leonards, and he joins us from Connecticut. Sue, it's great to speak with you. No one likes having to
raise prices, but at some point they need to. How have you been What's been your strategy when it comes to price increases because of higher cost on your end?
Well, you know, we're in the fresh food business basically, and you know it ebbs and flows all the time. You know, it could be bad weather someplaces. There could be a drought out in the Midwest, and that all effects food prices. So one of the things, Look, we operate on very thin margins and the food business all supermarkets, and you know, when something like this comes up, like the tariffs when they hit us now, we got the
fuel surcharges that are hitting us right now. We try to just eat it for as long as we can. You know, just just hold on. I grew up in this business. I've been doing it fifty years. I grew up on the floor here, and I got to think about the people pushing the shopping carts around the store. You know, I want to think like a customer, and they're fed up right now with any Their food bill right now is up up to their chin, you know.
So what can I do? I got to hold it as long as I can, but I can't do it forever otherwise I'll start losing money.
So I mean, based upon your experience so far this year with the higher terrorfs ken, what's I know? You try to work with your suppliers to kind of share the cost here, how's it kind of taking out how much has been born by you the retailer, by maybe your suppliers, and then maybe by the consumer.
Well, I think your opening comment that you had today, nobody wins when you raise price, Okay, The suppliers don't win, The ranchers don't win, the farmers through Londons doesn't. So everybody holds off. Usually what we'll end up probably doing. We're starting to get some fuel surcharges heading up right now. We're bringing fresh product in from the feed from the Midwest and you know, berries and produce from from Florida
and California, you know, and those fuel costs. I mean, the guy's got to fill this truck up to get it here, So those costs have been going up. Usually what we can do and say we'll split it with you, that's the first step. So that's what we're probably gonna start doing. Uh and then hopefully the way I feel this is this is gonna be short term. I hope the government is going to get this all worked out with the flow of oil, and I hope energy prices will be coming down in the future.
Yeah, well, I think that's something we all hope for. Of course, we also know that the Supreme Court struck down President Trump's tariffs, and I'm wondering where that leaves you, Stu Leonards, and where that leaves prices on those goods where they had gone up because of tariffs.
You know what, I think that's above my pagurade right there. You know, we're a family business here in the metro New York area. I don't really know how they're gonna rebate people. I know, Costco was sueing the government and I think our wine suppliers just wrote that there's some money coming back from the tariffs on the liquor under the business. But I don't really know how that's gonna work out. I like getting a refund checked. I guess a bit if it happened.
Heystu. One of the areas that seems to be persistent area of inflation for shoppers just the cost of beef. And you know, we've been told that the actual cattle herd in his countries at a very low level. What's what's your understanding of that market?
Hey, look what I've had for you right here? I brought one of these how's that? Look? Oh, there we go. That's that's what our ranchers when they come back from the Midwest. That's what they want to eat for rib by, you know, tomahawks, steak and they're great. But you know what, right now there there is a fifty year low supply of cattle. Right now, it's at the lower the herd sizes of the smallest they've been, so obviously it's going to drive price. One of the reasons is there was
a great drought. The grass wasn't out in the in the pastors, so the ranchers had to start feeding the cattle of food instead of letting them eat the freere. So that drove the price of beef and it's held up there. A lot of the ranchers we talked to are starting to expand their herds now, so I sort of see prices coming down on deep as supply increasons a little bit. Well, you know, here's what you can do if you want to save money instead of buying beef.
Like if I want to go get a New York strip right now, it's going to be roughly around fifteen bucks account. What you can do is instead if you go to pork, which I've done it. We have this prime pork from Pennsylvania and it's delicious, So you could switch from a fifteen dollars product down to a five dollars. You could do it with chicken. So we're noticing customers a little bit of starting to alter their diets a little bit. Yeah, by buying lower price items right now makes a.
Lot of sense, and certainly everyone's taking a closer look at those price points when they make that decision. Stu, thank you so much for joining. Stuart Leonard Junior is president and CEO of stut Leonard's a very popular market across Connecticut.