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☆ 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 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

☆ Our largest investors are 'happy' with stock split, care about growth and results, says Chipotle CFO
▼ + stars: | 2024-04-01 | 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 EmailOur largest investors are 'happy' with stock split, care about growth and results, says Chipotle CFOJack Hartung, Chipotle CFO, joins 'Mad Money' host Jim Cramer to talk its recent stock split announcement, opening new restaurants, consumer trends and more.

Persons: Jack Hartung, Jim Cramer

☆ Chipotle CFO explains why the chain split its stock for the first time
▼ + stars: | 2024-04-01 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Chipotle Chief Financial Officer Jack Hartung explained why the fast-food chain decided to split its stock for the first time in its 30-year history in an interview with CNBC's Jim Cramer. Hartung said the company wanted to make shares more accessible to employees and increase liquidity for investors. "We study this every year or so, we have our bankers come in, we talk about the pros and cons of doing the split," Hartung said. Chipotle in late March proposed a 50-for-1 stock split, meaning shareholders will gain 49 shares for every one they already own. Investors care more about Chipotle's growth and results than the stock split, according to Hartung.

Persons: Jack Hartung, CNBC's Jim Cramer, Hartung, Chipotle Organizations: CNBC

☆ 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, —

Not only does it mean an additional game on Prime Video that Amazon hopes to make into a yearly tradition, but it comes on the busiest shopping day of the year. Hans Schroeder, the executive vice president of NFL Media, said the league had been exploring the possibility of adding a game on Black Friday for a while. Adding a Black Friday game gives the NFL another day to take over. According to Nielsen, the most-viewed Amazon game came in Week 2 this season when the Philadelphia Eagles hosted the Minnesota Vikings. NFL games are averaging 17.1 million viewers through 11 weeks, which is a 6% increase over last season.

Persons: We’re, Jay Marine, Hans Schroeder, ” Schroeder, “, Amazon, Garth Brooks, “ I’m, ”, Al Michaels, Kirk Herbstreit, there’s, Tim Boyle, Aaron Rodgers, Tua Tagovailoa, Hill, ___ Organizations: Miami Dolphins, New York Jets, NFL, NFL Media, Amazon, Shopping Network, Nielsen, Philadelphia Eagles, Minnesota Vikings, Jets, AFC East, Dolphins Locations: X’s

☆ The German car industry has been very successful but is now facing a demanding situation, Bosch CEO says
▼ + stars: | 2023-11-14 | 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 EmailThe German car industry has been very successful but is now facing a demanding situation, Bosch CEO saysStefan Hartung discusses the outlook for the German car industry given Chinese competition.

Persons: Bosch, Stefan Hartung

☆ Chipotle’s Labor Costs Are Rising. Customers Will See It in Pricing.
▼ + stars: | 2023-11-01 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: 1 min

A law in California raising the hourly minimum wage for fast-food workers to $20, starting in April, will increase Chipotle’s labor costs in the state on average by 15% to 20% next year. Photo: Justin Sullivan/Getty ImagesChipotle Mexican Grill is expecting a significant bump in labor costs next year because of a new law in California. Starting in April, minimum wage for fast-food workers in California will increase to $20 an hour, up from the state’s current hourly minimum wage of $15.50. The law applies to fast-food chains with at least 60 national locations and will come as the state’s minimum wage is set to rise to $16 an hour in January. Chipotle currently pays California workers in the high teens, around $17 to $18 an hour, said Chief Financial Officer Jack Hartung.

Persons: Justin Sullivan, Chipotle, Jack Hartung Locations: California

☆ McDonald's, Chipotle to raise menu prices in California next year as fast-food wages rise to $20
▼ + stars: | 2023-10-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

McDonald's and Chipotle Mexican Grill will raise their menu prices in California next year to offset the state's minimum wage increase for fast-food workers, executives said as both chains announced quarterly earnings in recent days. McDonald's has not decided how much it will hike prices in California as workers' wages rise to $20 an hour, CEO Chris Kempczinski said Monday. Restaurants have been hiking menu prices for more than two years in response to rising ingredient and labor costs. Unlike Chipotle, which owns the overwhelming majority of its locations, most of McDonald's California locations are run by franchisees. "We believe we're in a better position than our competitors to weather this, so let's use this as an opportunity to actually accelerate our growth in California," Kempczinski said.

Persons: McDonald's, Chris Kempczinski, Chipotle, Jack Hartung, Hartung, Kempczinski Organizations: U.S . Bureau of Labor Statistics, McDonald's, National Owners Association, U.S, CNBC Locations: California, McDonald's, McDonald's California, McDonald's U.S

☆ Chipotle says it's going to hike prices to help pay for new $20 per hour wage hike for workers in California
▼ + stars: | 2023-10-27 | by ( Grace Dean | Nancy Luna | ) www.businessinsider.com time to read: +4 min

Chipotle separately just raised menu prices by 3%. Minimum wages for fast-food workers in the state will increase to $20 an hour in April 2024 under a new law signed by Governor Gavin Newsom. California's current minimum wage is $15.50 and it's set to rise to $16 in January – more than double the federal minimum wage of $7.25. Chipotle execs said during the company's earnings call on Thursday that it had recently raised menu prices by 3%. Chief Financial and Administrative Officer Jack Hartung told investors that this month's hike "does not consider any part of the California wages that'll happen next year."

Persons: Chipotle, hasn't, —, Gavin Newsom, Chipotle execs, Jack Hartung, Hartung, Erin Wolford, Newsom Organizations: Service, Consumer Locations: California, Chipotle

☆ Chipotle says it will raise menu prices because of new California minimum wage
▼ + stars: | 2023-10-26 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

“We are definitely going to pass this on.”A company spokesperson later told CNN that Chipotle hadn’t yet decided whether it will raise prices in California. Gavin Newsom in September signed legislation that raises the minimum wage to $20 an hour for fast food workers, and creates a council that can approve further increases in the future. The state’s current minimum wage is $15.50 an hour and will increase to $16 an hour on January 1. The new hourly wage for fast food workers will take effect on April 1 of next year. But workers have said that the higher minimum wage will make a meaningful difference in their lives.

Persons: New York CNN —, ”, John Hartung, we’ve, Gavin Newsom, Chipotle, Anneisha Williams, Jack, Williams Organizations: New, New York CNN, CNN, California ., California . California Gov, Employees Locations: New York, California, ”, California . California

We'll show you how to watch Thursday Night Football for free in this guide. How to watch Thursday Night Football free from anywhereThursday Night Football streams exclusively on Amazon Prime Video in the United States. How to watch Thursday Night Football for freeTwitch is usually freely accessible for everyone, but if you live outside the US, you may encounter restrictions watching Thursday Night Football on the Prime Video channel. Watch Eagles vs. Vikings on Thursday Night Football. Here's a list of all upcoming Thursday Night Football games for the 2023 NFL season.

Persons: NFL quarterbacking, Jalen, Al Michaels, Kirk Herbstreit, Kaylee Hartung, Charissa Thompson, Tony Gonzalez, Ryan Fitzpatrick, Richard Sherman, ExpressVPN Organizations: NFL, Eagles, Vikings, Philadelphia Eagles, Patriots, Minnesota Vikings, Buccaneers, Amazon, Fox, Amazon Prime, Insiders, Prime, Netflix, Watch Eagles, Giants, 49ers, Lions, Packers, Broncos, Chiefs, Jaguars, Saints, Bills, Titans, Steelers, Panthers, Bears, Bengals, Ravens, Football, Dolphins, Jets, Seahawks, Cowboys, Chargers, Raiders, Rams, Browns Locations: United States

"Chinese manufacturers will adapt vehicles to the European market step by step through user experience and customer orientation," Bosch (ROBG.UL) CEO Stefan Hartung told Reuters at Munich's IAA mobility show. Bosch's Chinese partnerships include developing Advanced Driver Assistance Systems (ADAS) for most of Chinese EV maker BYD's (002594.SZ) cars, electric motors for luxury EV maker Human Horizons and is a supplier for Nio (9866.HK). Chinese EV makers including BYD, Nio, Xpeng (9868.HK) and Leapmotor (9863.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. "When we talk to our Chinese customers, there are very concrete plans to build plants in Europe," ZF CEO Holger Klein told Reuters. Continental CEO Nikolai Setzer told Reuters the supplier expects "the Chinese to go global and build plants in Europe."

Persons: Leonhard Simon, Bosch, Stefan Hartung, Hartung, Holger Klein, Nikolai Setzer, Setzer, Nick Carey, Victoria Waldersee, Christina Amann, Zoey Zhang, David Evans Organizations: REUTERS, Rights, Reuters, BYD's, Human, HK, Europe's EV, Jato Dynamics, Friedrichshafen, ZF, Continental, Thomson Locations: Munich, Germany, China, Europe

☆ Amazon's 'Thursday Night Football' is winning over advertisers after a bumpy launch year, and a top exec says it will be 'aggressive' in pursuing more live sports
▼ + stars: | 2023-08-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

The tech giant is gearing up for a big 'Thursday Night Football' season with key matchups and new ad offerings. After hitting some snags with its inaugural NFL "Thursday Night Football" season on Prime Video last year, Amazon is bringing plenty of swagger to the field this year. Amazon is getting more TV ad dollars this year as the twin Hollywood strikes rage on, a top exec said. Amazon last year had also softened on its initial ask that advertisers buy the entire season's games and gave them the option to buy a portion of the games. Some advertisers were forgiving, though, given it was Amazon's first go at a live sports broadcast.

Persons: It's, Jay, Amazon's, We're, Al Michaels, Kaylee Hartung, NFL's, haven't, Kelly Metz, Marine, We'll, we'll Organizations: NFL, Football, Minnesota Vikings, Philadelphia Eagles, Toyota, Fox, ESPN, Amazon, Marine, Omnicom Media

☆ 3 trends are dividing restaurant companies into winners and losers
▼ + stars: | 2023-08-18 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

In this article CMGMCDWENPZZA Follow your favorite stocks CREATE FREE ACCOUNTA McDonald's restaurant near Times Square, NYC on July 29th, 2023. Adam Jeffery | CNBCRestaurant companies navigating some of the same challenges in the second quarter fell into two categories: winners and losers. While most restaurant companies crushed earnings expectations, a number of them fell short of Wall Street's estimates for their quarterly revenue. McDonald's and Wingstop both reported second-quarter earnings, revenue and same-store sales growth that topped analysts' expectations, a rarity this quarter for restaurant companies. One fast-casual chain has struggled with consumers' value perception.

Persons: Adam Jeffery, hasn't, Papa John's, TD Cowen, Andrew Charles, Burger, Wendy's, Jeffrey Bernstein, bode, Chris Kempczinski, Todd Penegor, Wingstop, Michael Skipworth, Chipotle, Jack Hartung, Noodles Organizations: CNBC Restaurant, Promotions, Investors, CNBC, Restaurant Brands, Barclays, Company Locations: NYC, Chipotle, Texas

☆ 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

☆ Chipotle is becoming a huge hit in small towns, and it's hurting chains like Chick-fil-A, McDonald's, and Texas Roadhouse
▼ + stars: | 2023-07-19 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

Now, it's expanding to small towns and hurting chains like Chick-fil-A, according to Placer.ai. Popular steak house chain Texas Roadhouse, which is 1.6 miles from the new Chipotle, saw year-over-year traffic slide by 5.27% in April and by 3.92% in May 2023. A Chick-fil-A less than a mile from Chipotle, saw foot traffic decrease four out of five weeks in May, Placer.ai reports. "I don't see how Chipotle's brand can transfer to small towns." Chipotle isn't betting all of its growth on small towns.

Persons: Chipotle, Placer.ai, Jack Hartung, Tim Powell, Zers, Powell Organizations: Service, Wall Street, Placer.ai, Texas, X Locations: Wall, Silicon, Chipotle, America, Texas, San Angelo , Texas, The Texas, McDonald's, Covington , Louisiana, Camden , Delaware, Washington, Canada, France, Germany

☆ Bosch ups investment in hydrogen, begins fuel-cell power module production
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

The planned investment was one billion euros more than earmarked in its previous investment plan for 2021-2024, the statement added. Bosch expects one in five new trucks weighing six metric tons or more would feature fuel-cell powertrains by 2030, it said. Bosch said production of its fuel cell power module - a fuel cell system generating electricity in vehicles from hydrogen, primarily used in commercial long-distance applications - has begun in its Stuttgart-Feuerbach plant in Germany and in Chongqing, China. Daimler Truck (DTGGe.DE) plans to bring a hydrogen truck to market in the second half of the decade, forming a joint venture with Volvo (VOLVb.ST) to develop the zero-emissions technology. Automaker Stellantis said this year it would begin deliveries in Europe of its first medium-sized vans powered by hydrogen fuel cells by the end of 2021.

Persons: Bosch, Stefan Hartung, Feuerbach, Stellantis, Victoria Waldersee, Ilona Wissenbach, Emelia Sithole Organizations: Bosch, Nikola Corporation, Daimler, Volvo, Volkswagen, Thomson Locations: BERLIN, Stuttgart, Germany, Chongqing, China, American, Europe

☆ Bosch looks to growth in cars, heating systems
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: 1 min

Companies Robert Bosch GmbH FollowFRANKFURT, May 4 (Reuters) - German technology group Robert Bosch expects 6% to 9% revenue growth this year from 88.2 billion euros ($97.49 billion) in 2022 and an EBIT margin of 5%, up from 4.3% last year, it said on Thursday thanks to growth in both its cars and heating systems businesses. The transformation of energy systems to protect the climate creates business potential, Bosch Chief Executive Stefan Hartung said, making clear that opportunities lay in both the electrification of cars and heating systems. "Growth is not only on the road, even though we are very successful there," he said. ($1 = 0.9047 euros)Reporting by Ilona Wissenbach Writing by Madeline Chambers Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen, Bosch give up joint venture plans for battery cells
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Volkswagen logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' DelgadoMay 4 (Reuters) - Volkswagen (VOWG_p.DE) and Bosch (ROBG.UL) have cancelled their plans to create a joint venture to equip battery cell factories, Bosch said on Thursday. "We are not setting up a joint venture," Bosch Chief Executive Officer Stefan Hartung said, adding that the partnership with the German carmaker to digitise its battery factories would continue. The joint venture, announced at the beginning of 2022, was designed to deliver battery production systems, as well as assisting battery cell manufacturers in scaling up and maintaining their production sites. "Volkswagen and PowerCo are sticking to their plan to get involved in equipping battery cell factories in the future.

☆ Why Prices, Inflation Are Still Soaring: Corporate Price Gouging
▼ + stars: | 2023-05-02 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

While many of the problems that helped trigger the upward spiral have abated, prices are still high and getting higher. The idea that companies are taking advantage of disruptions to push price increases on consumers has many names — greedflation, excuseflation, price gouging, corporate profiteering — but the gist is the same. Supply-chain issues and other disruptions made sense as drivers of higher prices, Chris Becker, a senior economist and the associate director of policy and research at the Groundwork Collaborative, told me. "Working people are suffering thanks to corporate greed, so we need to enact tougher rules to ensure corporations pay a price when they price gouge." Working people are suffering thanks to corporate greed, so we need to enact tougher rules to ensure corporations pay a price when they price gouge.

April 25 (Reuters) - Chipotle Mexican Grill Inc (CMG.N) topped Wall Street expectations for first-quarter profits and sales on Tuesday, helped by higher menu prices, 41 new restaurant openings and some recovery among lower-income customers. The company said it expects second quarter and full year comparable sales growth in the mid-to-high single digits. Even with inflation squeezing household budgets, restaurant chains are expected to post higher sales growth in the first quarter. Comparable sales at California-based Chipotle jumped about 11% in the first quarter, while analysts on average expected an 8.6% rise, according to Refinitiv data. Inflation in the second half is "really a wild card," Chief Financial Officer Jack Hartung said on the earnings call.

☆ The future of the U.S. military's tank force
▼ + stars: | 2023-03-25 | by ( Brad Howard | ) www.cnbc.com time to read: +2 min

"The Russian tanks didn't fare well," said William D. Hartung, senior research fellow at the Quincy Institute. "They were taken out pretty quickly by modern anti-tank systems. And I think that would be a problem also for U.S. tanks in a future conflict." "It's pretty obvious from that, that the tank is still an important part of the battlefield." Watch the video above to find out more about tanks and what military experts view as their potential relevance in future battles

☆ U.S. weapons sales to get stricter human rights review under Biden
▼ + stars: | 2023-02-23 | by ( Patricia Zengerle | ) www.reuters.com time to read: +4 min

"We are looking at a policy of prevention when there is a risk of violation of human rights," one official said. Biden's administration was criticized last year for approving the potential sale of radars and aircraft to Egypt despite what Human Rights Watch called Egypt's "atrocious human rights record." Reuters reported in 2021 that the Biden administration was considering a CAT policy shift to emphasize human rights. For example, Senator Bob Menendez, Democratic chairman of the Senate Foreign Relations Committee, opposes the sale of Lockheed Martin F-16 aircraft to Turkey for reasons including disregard for human rights. He rolled out a CAT policy in 2018 that gave commercial concerns as much weight as human rights in deciding whether to approve weapons sales.

☆ Stocks making the biggest moves premarket: Uber, Chipotle, Microsoft, Lumen and more
▼ + stars: | 2023-02-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Uber — The ride-hailing app's shares rose more than 7% after it posted fourth-quarter earnings that topped analyst estimates. Uber earned 29 cents a share, beating analysts' estimate of an 18 cent loss, Refinitiv data showed. This year's adjusted earnings guidance missed StreetAccount estimates. Fortinet — The cybersecurity company's shares rose 11% after it beat analysts' estimates in the most recent quarter by five cents a share, according to StreetAccount. Under Armour earned adjusted EPS of 16 cents vs a StreetAccount estimate of 9 cents.

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