yeah the high end restaurant, Fallow, in the UK made a video on how they are able to make a profit on beef. Basically, they buy whole sides, butcher it in house, make all the beef dinner something people expect to pay extra for, but keep the price within reasonable expectations.

Chain places probably have a similar operation, but instead of one side at a time, and in house butchering, they are buying 1000's of sides, and making year+ length contracts with a meat packing corporation.