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☆ Corporate earnings solid so far, despite threats from a slowing economy and sticky inflation
▼ + stars: | 2024-04-29 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Valuations coming down So if earnings are up, why is the S & P off its highs? Today, a month later, 2024 earnings estimates are essentially the same but the multiple has declined to 20.8. The S & P 500 hit a low of 4,117 on Oct. 27 and only recovered when rates came down in early November. There are some big drags on earnings Some companies are seeing large declines in earnings estimates that are weighing on their sectors. When including this one-time item, the S & P 500 earnings growth rate for the first quarter declines to 5.6%, from 8.7%, LSEG has noted.

Persons: Goldman Sachs, JPMorgan Chase, Morgan Stanley, Christopher Suh, Stephen Squeri, Hess, Nick Raich, LSEG, Hal Lawton, Brian Niccol, CNBC's Kate Rogers, Horton, Paul Romanowski, Kimberly, Clark, Michael Hsu Organizations: Companies, Netflix, JPMorgan, GE Aerospace, Caterpillar, Microsoft, Merck, Ford, Waste Management, Royal, Consumer, American Express, Energy, Marathon Petroleum, Apache, Valero Energy, Oil, Occidental Petroleum, Devon Energy, ConocoPhillips, Exxon Mobil, Scout, Bristol Myers Squibb, Karuna Therapeutics, Boeing, Nvidia, Meta, AMD Locations: financials, industrials, Royal Caribbean, North America

☆ Chipotle says its service is much faster now, and it means fewer people are bothering to order ahead
▼ + stars: | 2024-04-26 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Chipotle's CFO said that says that fewer customers are ordering ahead as its service speeds up. A key metric for the chain is how many entrées each restaurant makes in its peak 15 minutes. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChipotle says that its service is becoming so much speedier that fewer customers are bothering to order ahead on its app. During the pandemic, many fast-food and fast-casual chains rolled out ways for customers to order ahead so that customers could skip the line.

Persons: —, Chipotle, Jack Hartung, Brian Niccol, Niccol, Hartung Organizations: Service, Business, Boston

☆ Chipotle had to rename its barbacoa burrito filling because customers didn't know what it was
▼ + stars: | 2024-04-25 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Chipotle renamed its barbacoa filling because customers didn't know what it was. It has now been renamed "braised beef barbacoa," its CEO said. AdvertisementChipotle's CEO said it had to rename its barbacoa burrito filling because diners weren't sure what it was. "Many of our guests did not know that barbacoa was braised beef," CEO Brian Niccol told analysts at the company's first-quarter earnings call on Monday. The item, which is labeled on its US menu as "beef barbacoa" and in its ads as "braised beef barbacoa," is available as a filling for burritos, burrito bowls, salad bowls, tacos, and quesadillas.

Persons: Chipotle, Barbacoa, —, barbacoa, Brian Niccol Organizations: Service, Business Locations: Mexico

☆ Chipotle says California's minimum wage pushed menu prices up nearly 7%
▼ + stars: | 2024-04-24 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

The effects of California's $20 minimum wage for fast food workers are starting to show. This translated to a 7% menu price increase at Chipotle locations in California. AdvertisementCalifornia's $20 wage for fast food workers is just a few weeks old, and the effects on workers and customers are beginning to emerge. At Chipotle, the law drove a 20% increase in wages for its restaurant staff in the Golden State, the company said during its earnings call on Wednesday. To offset that cost, menu prices notched up about 6% to 7% for customers in California, CEO Brian Niccol said.

Persons: Chipotle, —, Brian Niccol Organizations: Service, Golden State, Business Locations: California, Chipotle, Golden

☆ Chipotle abandons Farmesa Fresh Eatery spinoff after ghost kitchen closes
▼ + stars: | 2024-04-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Chipotle Mexican Grill is abandoning its Farmesa Fresh Eatery spinoff after partner Kitchen United closed its ghost kitchens. A little over a year ago, Chipotle announced the opening of its first Farmesa location at Kitchen United's Santa Monica location. But the Santa Monica ghost kitchen closed in February as its parent company struggled financially. In November, Kitchen United announced plans to close or sell all of its locations as it pivoted into software. But once customers started returning to dining in person and capital grew more expensive, many ghost kitchen startups like Kitchen United found themselves in trouble.

Persons: Chipotle, Curt Garner, Brian Niccol, it's, Chipotle's, Sam Nazarian Organizations: United, CNBC, Kitchen United Locations: Monica, Santa Monica, U.S

☆ Chipotle reports big earnings beat, and its shares are jumping
▼ + stars: | 2024-04-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Chipotle Mexican Grill on Wednesday reported quarterly earnings and revenue that beat analysts' expectations, fueled by higher traffic to its restaurants. Excluding a 36-cent hit from increases to its legal reserves, the burrito chain earned $13.37 per share. Chipotle said traffic increased 5.4% from the year-ago period, while the average check was up just 1.6%. Chipotle has become the rare restaurant chain to report rising transactions despite higher menu prices. In March, Chipotle's board approved a 50-for-1 stock split, one of the largest in the New York Stock Exchange's history.

Persons: Chipotle, Jack Hartung, Brian Niccol, Chipotle's Organizations: LSEG, burrito, New York Stock Locations: Manhattan , New York, California

☆ Hopefully we can navigate inflation without price increases, says Chipotle CEO
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHopefully we can navigate inflation without price increases, says Chipotle CEOBrian Niccol, Chipotle CEO, joins 'Closing Bell Overtime' and CNBC's Kate Rogers to talk quarterly results, the state of the consumer, impact of inflation and more.

Persons: Brian Niccol, CNBC's Kate Rogers

☆ Chipotle says California customers will soon be paying more for their burritos
▼ + stars: | 2024-02-08 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Chipotle customers in California should brace themselves for higher menu prices this year. The law will put fast-food workers' wages up to $20 an hour from April. Minimum wages for California fast-food workers will increase to $20 an hour in April under a law signed by Gov. The new legislation, known as AB 1228, won't just bring a wage increase in April. Chipotle, which has roughly 115,000 workers, spent $2.44 billion on labor in 2023, up about 11% from the previous year.

Persons: Chipotle's, —, Jack Hartung, Gavin Newsom, Hartung, Laurie Schalow, Chipotle, Chris Kempczinski, Brian Niccol Organizations: Service, Gov Locations: California, —

☆ Chipotle CEO Brian Niccol goes one-on-one with Jim Cramer
▼ + stars: | 2024-02-06 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChipotle CEO Brian Niccol goes one-on-one with Jim CramerChipotle Chairman and CEO Brian Niccol joins 'Mad Money' host Jim Cramer to talk quarterly results, new location openings, consumer trends and more.

Persons: Brian Niccol, Jim Cramer

☆ Chipotle CEO Brian Niccol on opening new restaurants in 2024
▼ + stars: | 2024-02-06 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChipotle CEO Brian Niccol on opening new restaurants in 2024Chipotle Chairman and CEO Brian Niccol joins 'Mad Money' host Jim Cramer to talk quarterly results, new location openings, consumer trends and more.

Persons: Brian Niccol, Jim Cramer

☆ After Chipotle's solid earnings beat, CEO says the chain can double the number of locations
▼ + stars: | 2024-02-06 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Chipotle CEO Brian Niccol told CNBC's Jim Cramer that the company plans to double its current number of locations. "We really do believe we can double the restaurant count to 7,000," Niccol said. "We view it as a conservative number, and we view it as something that's very feasible in the long term." Niccol attributed the successful quarter to the company's ability to produce quality food while keeping lines in the restaurants moving quickly. "So, we keep a really close eye on that, and I think you're seeing that in our transactions as a result of it."

Persons: Brian Niccol, CNBC's Jim Cramer, Niccol, Chipotle, McDonald's Organizations: LSEG, Starbucks

☆ The best and worst restaurant chain apps, from Starbucks to McDonald's
▼ + stars: | 2023-11-06 | by ( Nancy Luna | ) www.businessinsider.com time to read: +11 min

We can order food, earn rewards, and find unique online-only offers. McDonald'sAfter lagging behind rivals for years, the chain's app now has over 57 million active members. That feature has been around since Dunkin's mobile app first launched in August 2012. The chain first began testing mobile ordering in a handful of markets in 2009 before going national in 2011. For example, the Chipotle app gives you uber-specific portion size choices such as "normal," "extra" or "light' servings.

Persons: —, Taco Bell, Dunkin, Taco, Brian Niccol, it's, Wendy's, Burger King, Domino's, They've, I'm, Joe, Chipotle Organizations: Starbucks, Service, Subway Subway, Subway, Restaurant, Taco Bell, Burger, Chipotle Locations: Cava, Burger

☆ Starbucks says it's fixing a customer frustration: ordering drinks to the wrong pickup location
▼ + stars: | 2023-11-03 | by ( Gloria Dawson | ) www.businessinsider.com time to read: +2 min

Starbucks says it's rolling out a fix to prevent customers from ordering drinks to the wrong pickup location. AdvertisementAdvertisementStarbucks says it's fixing a common customer frustration: ordering drinks to the wrong pickup location. "So we recently improved the ability for people to select a store and significantly reduce the orders that are sent to the wrong store." Ordering a drink to the wrong pickup location isn't just inconvenient for customers. These mistakenly placed orders are "our most frequent refund requests," Niccol said.

Persons: aren't, —, Brady Brewer, Brian Niccol, Chipotle, Niccol Organizations: Starbucks, Service Locations: Chipotle

☆ Watch 'Science Guy' Bill Nye respond to Google Bard when the AI asked how it can help save the world
▼ + stars: | 2023-10-29 | by ( ) www.cnbc.com time to read: 1 min

RELATED VIDEOS07:17 Watch 'Science Guy' Bill Nye respond to Google Bard when the AI asked how it can help save the world04:47 Tri Pointe Homes CEO: New home builders are well-positioned to sell to younger generations03:27 Columbia Sportswear CEO: The Chinese consumer is quite robust, and our business there has been good05:44 Q3 growth was driven by transactions and execution, says Chipotle CEO Brian Niccol03:53 EQT CEO Toby Rice: We want to be known as America's best natural gas producer

Persons: Guy, Bill Nye, Bard, Brian Niccol, Toby Rice Organizations: Pointe Homes, Columbia

☆ Chipotle workers have to start as early as 6 a.m. to prep food even though the restaurants don't open for 4 more hours
▼ + stars: | 2023-10-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Shifts for prep workers at Chipotle can start as early as 6 a.m., CEO Brian Niccol told investors. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementPrep workers at Chipotle have to start work as early as 6 a.m. to get food ready for when the restaurants open, company execs revealed at its third-quarter earnings call Thursday. Niccol told investors that Chipotle's staffing and turnover were "back to or better than pre-pandemic levels."

Persons: Brian Niccol, mashing, Chipotle, —, execs, Niccol, Brandon Bell, Chipotle execs Organizations: Service Locations: Chipotle

☆ Chipotle quarterly results shine as burrito cravings defy high prices
▼ + stars: | 2023-10-26 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

[1/3] People are served in a Chipotle outlet in Manhattan, New York City, U.S., February 7, 2022. Chipotle said it has not seen any material impact from weight-loss drugs. While consumers taking weight-loss treatments consume fewer calories, "it's important the calories they do consume are coming from clean food. Chipotle forecast fourth-quarter comparable sales growth in the mid- to high-single-digit range, compared with estimates of a 5.38% rise. Reporting by Deborah Sophia in Bengaluru; Editing by Krishna Chandra Eluri and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Brian Niccol, Chipotle, Sante Faustini III, we're, Niccol, Deborah Sophia, Krishna Chandra Eluri Organizations: REUTERS, Thomson Locations: Manhattan , New York City, U.S, California, Bengaluru

☆ Q3 growth was driven by transactions and execution, says Chipotle CEO Brian Niccol
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQ3 growth was driven by transactions and execution, says Chipotle CEO Brian NiccolBrian Niccol, Chipotle CEO, joins 'Closing Bell Overtime' to talk quarterly results, the impact of weight-loss drugs, integrating robotics and more.

Persons: Brian Niccol Brian Niccol

☆ Chipotle Mexican Grill easily tops earnings estimates, as price hikes help offset higher food prices
▼ + stars: | 2023-10-26 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Chipotle Mexican Grill on Thursday reported quarterly earnings that beat expectations, helped by higher menu prices for its burritos and bowls. Shares of the company rose more than 5% in extended trading. Earlier this month, Chipotle raised menu prices for the first time in more than a year, citing inflation. Same-store sales rose 5%, beating StreetAccount estimates of 4.6%. The company credited higher transactions and menu prices for the quarter's same-store sales growth.

Persons: Chipotle, Brian Niccol Organizations: LSEG Locations: Chicago , Illinois

☆ Chipotle is raising prices again
▼ + stars: | 2023-10-11 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

Chipotle has been raising its prices over the past few years, citing higher costs. In June of 2021, Chipotle said it was raising prices about 3.5% to 4%. So far at Chipotle, the increased prices haven’t scared people off — clearing the way for more expensive burritos. Even companies that have seen customers pull back due to the higher prices reported higher sales, because those higher prices offset volume declines. The snack and beverage company said it increased prices globally by 11% on average, helping nudge revenue higher than analysts’ expectations.

Persons: Chipotle’s, ” Laurie Schalow, Chipotle, “ We’re, ”, Brian Niccol, “ We’ve, ” Niccol, — CNN’s Jordan Valinsky Organizations: New, New York CNN, CNN, PepsiCo, Bureau of Labor Statistics Locations: New York, Chipotle

☆ Chipotle plans price increases after pausing hikes this year
▼ + stars: | 2023-10-11 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Customers order from a Chipotle restaurant at the King of Prussia Mall in King of Prussia, Pennsylvania. The company did not share how much menu prices will rise as a result of the decision. The burrito chain started hiking its menu prices in June 2021, citing the cost of rising wages for its employees. But Chipotle paused its price hikes as some customers pulled back on restaurant spending and ingredient costs stabilized. Three months later, Niccol said Chipotle would reconsider its pricing as the company's fourth quarter drew closer.

Persons: King, King of Prussia, Laurie Schalow, Chipotle, Brian Niccol, Niccol Organizations: Corporate, CNBC, of Labor Statistics Locations: Prussia, King, King of Prussia , Pennsylvania

☆ See Chipotle's new robots that can crank out nearly 200 burrito bowls an hour
▼ + stars: | 2023-09-22 | by ( Nancy Luna | ) www.businessinsider.com time to read: +2 min

Chipotle is working with Hyphen, a startup that uses robotics to make up to 180 bowls per hour. The chain is testing an automated kitchen line by Hyphen to prepare digital orders, a $3 billion business for Chipotle. But unlike other tech firms, Hyphen has buy-in from Chipotle, one of the industry's most innovative brands. Chipotle invested in Hyphen in 2022 and started piloting its robotics this year in a lab near the chain's Newport Beach, California, headquarters. Based in San Jose, California, Hyphen recently gave Insider an exclusive first look at how it uses robotics to make up to 180 bowls per hour.

Persons: Chipotle, Brian Niccol, Niccol Organizations: Service, Chipotle Locations: Wall, Silicon, Chipotle, Beach , California, San Jose , California

☆ Chipotle CEO: Optimistic we'll get back to the normal cadence of 2-3% price hikes a year
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChipotle CEO: Optimistic we'll get back to the normal cadence of 2-3% price hikes a yearBrian Niccol, Chipotle CEO, joins 'Squawk on the Street' to discuss how the inflationary pressures are looking for Chipotle, how this year's pricing strategy will end up, and how the minimum wage hike in California will impact the company's business.

Persons: Brian Niccol Locations: California

☆ Here's what CEOs are saying about consumers this earnings season
▼ + stars: | 2023-08-08 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Consumers have more cash on hand now than before the pandemic, according to a July analysis from the JPMorgan Chase Institute. So, what do corporate earnings reveal about the health of the consumer? “The consumer is in good financial shape, particularly the premium consumer base that we target,” Ed Bastian, chief executive of Delta Air Lines (DAL), said last month. “Both the lower-income consumer and our higher-income consumers are showing really good strength,” said Brian Niccol, chief executive of Chipotle, during the company’s post-earnings call. “The macro effects of higher inflation and a slowing US economy have put increased pressure on the price-sensitive consumer,” said Chip Bergh, chief executive of Levi Strauss.

Persons: Taylor Swift’s, ” Ed Bastian, ”, Robert Jordan, “ We’re, Laxman Narasimhan, Chipotle, Brian Niccol, Levi Strauss, LEVI, Chip Bergh, “, Tarang Amin, Zachary Kirkhorn, Peter Valdes, Kirkhorn, Tesla, Elon Musk’s, Vaibhav, Read, Jennifer Korn, it’s, Google Organizations: CNN, JPMorgan Chase Institute, Airlines, Consumers, Delta Air Lines, DAL, Southwest Airlines, Papa Johns, Apparel, Tesla, Google Locations: United States, Pacific, Papa Johns ’ North, bitcoin

☆ U.S. fast-food chains add automation to boost speed
▼ + stars: | 2023-08-02 | by ( Kailyn Rhone | ) www.reuters.com time to read: +3 min

With mass shortages of low-cost labor due to the pandemic, chains shifted to technology investments in their kitchens to fill the gap. The addition of automation tools in restaurant chains could cut down on wait times, driving higher consumer engagement and increasing sales for the rest of the year, restaurant executives say. Thirty-six percent of 1,000 U.S. people told HungerRush in a survey in May that they believed major restaurant chains don’t have enough staff to take orders, prepare food, and handle deliveries. Last year, Domino's Pizza Enterprises announced an automated pizza prep device in partnership with Picnic Works, a Seattle-based food-automation startup. "Anytime there's new automation, it creates new kinds of jobs," said Gaurav Kachhawa, chief product officer at Gupshup, a conversational messaging platform.

Persons: Carlo Allegri, Rachel Ruggeri, HungerRush, Aaron Nilsson, Chipotle, Brian Niccol, Domino's, Gaurav Kachhawa, It's, Jonathan Oatis Organizations: REUTERS, Siren, Starbucks, National Restaurant Association, Society, Pizza Enterprises, Picnic, Kailyn, Thomson Locations: Manhattan, New York City , New York, U.S, Michigan, Colorado, Houston, Seattle, Indiana, Indiana , Illinois, Wisconsin

☆ Chipotle says customers can't get enough of its Chicken al Pastor – and it means it's having to spend less on pricier beef
▼ + stars: | 2023-07-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Chipotle says its limited-edition Chicken al Pastor is boosting sales and attracting new customers. Chicken al Pastor was added to its menus in March, and according to CEO Brian Niccol, one in five customer orders at the chain now include the protein. "We've got a benefit because Chicken al Pastor has really shifted some of our customers from the more expensive beef into the less expensive chicken," CFO Jack Hartung said in an earnings call on Wednesday. Chicken al Pastor isn't just cheaper for Chipotle to make, it's also helping to attract new customers, the company said. Plus, it was a fairly straightforward dish to launch because it's made using Chipotle's existing adobo chicken, which is then mixed in an al pastor marinade.

Persons: Chipotle, al, –, al Pastor, Brian Niccol, We've, Jack Hartung, Price, isn't, it's, marinade, morita, Niccol Organizations: Service, Bureau for Labor Statistics Locations: Wall, Silicon, Canada, Germany, France

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