Beef prices have increased by about 27% over the past three years, affecting American consumers. Omaha Steaks is responding to this trend by reducing its menu from 500 items to around 120. The company will focus on offering cheaper cuts of meat to help make its products more affordable.

Omaha Steaks also plans to expand its retail presence, aiming to double its footprint over the next two years with around 80 new locations.

Further details on Omaha Steaks' plans and the impact of rising beef prices are available from the source.