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☆ 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

[1/2] The logo of Chipotle is seen on one of their restaurants in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File PhotoJuly 26 (Reuters) - Chipotle Mexican Grill (CMG.N) missed Wall Street estimates for quarterly sales on Wednesday as a pause in months-long price hikes hurt its top line, sending the company's shares down nearly 9% in extended trading. California-based Chipotle also projected current-quarter comparable sales to grow in the low- to mid-single-digit range, while analysts on average expected a 6.01% increase. Like other restaurants, Chipotle has hiked menu prices to offset the impact of higher input costs of everything from beef to potatoes. Chipotle was not seeing any weakness in the lower-income consumer despite high inflation, CEO Brian Niccol said in a post-earnings call.

Persons: Andrew Kelly, Chipotle, Brian Niccol, Scott Boatwright, Peter Saleh, Sante Faustini, Deborah Sophia, Devika Organizations: REUTERS, Intelligence, Science, Thomson Locations: Manhattan , New York City, U.S, California, Bengaluru, Kailyn Rhone, New York

☆ Chipotle CEO Brian Niccol sits down with Jim Cramer after reporting Q2 earnings
▼ + stars: | 2023-07-26 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Chipotle CEO Brian Niccol sits down with Jim Cramer after reporting Q2 earningsChipotle Chairman and CEO Brian Niccol sits down with 'Mad Money' host Jim Cramer to talk quarterly results and why he says he is proud of Chipotle's performance.

Persons: Brian Niccol, Jim Cramer

☆ Chipotle CEO says the 'Autocado' robot prototype makes workers' jobs easier
▼ + stars: | 2023-07-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Chipotle CEO Brian Niccol sat down with CNBC's Jim Cramer on Wednesday to discuss the Mexican fast food chain's earnings and the "Autocado" robot prototype. "And, frankly, our supply chain team, our operators, have done a great job of managing labor, managing costs along the way." Niccol also touted Chipotle's "Autocado" robot prototype. He said the 'Autocado' not only makes workers' jobs easier, but it allows them to recover faster if they find they haven't prepared enough guacamole for the day. "We challenged our team to come up with a robotic or an automated solution, and we've got one that's a prototype, it's the 'Autocado,'" Niccol said.

Persons: Brian Niccol, CNBC's Jim Cramer, Niccol, Chipotle, he'd, prepping, we've

☆ Chipotle CEO Brian Niccol: We're really proud of our results
▼ + stars: | 2023-07-26 | by ( Jim Cramer | ) 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 Brian Niccol: We're really proud of our resultsChipotle Chairman and CEO Brian Niccol sits down with 'Mad Money' host Jim Cramer to talk quarterly results and why he says he is proud of Chipotle's performance.

Persons: Brian Niccol, We're, Jim Cramer

☆ Chipotle signs first-ever franchise partner to open locations in the Middle East
▼ + stars: | 2023-07-18 | by ( Kate Rogers | ) www.cnbc.com time to read: +1 min

Chipotle announced Tuesday it has signed an agreement with Kuwait-based Alshaya Group, its first-ever franchise partner, to open locations in the Middle East next year. The Alshaya agreement marks the first time Chipotle has enlisted a local franchise retail operator as it moves into a new market. Chipotle CEO Brian Niccol told CNBC in an interview that the initial plan calls for two locations each in Dubai and Kuwait, with exact locations yet to be determined. "They've got great brands, great operations, great people programs, which just gave us confidence that they'd be able to execute the Chipotle proposition effectively in the Middle East," Niccol said. In evaluating the Middle East market, Niccol said it was important to partner up to ensure success in everything from real estate to hiring to supply chain.

Persons: Chipotle, Brian Niccol, Niccol, They've, they'd Organizations: Group, CNBC, Starbucks, Texas Locations: Chicago, United States, Kuwait, Canada, Europe, U.S, Dubai, Shack

☆ TikTok has become a 'billion-person focus group' that can make or break your business with one viral video
▼ + stars: | 2023-06-22 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

A review can now completely change the trajectory of a business if it goes viral on TikTok. A viral video on TikTok can make a product fly off of shelves, or leave consumers questioning the quality of a company. Corey Robinson, chief product officer for Abercrombie & Fitch, described TikTok to The Journal as "a billion-person focus group." Fame is just as easy to achieve as infamy on TikTok where videos can quickly — and unexpectedly — go viral. In late 2022, Chipotle employees were hit with waves of complicated orders and unhappy customers after Lee and TikToker Alex Frost posted viral videos trying a menu hack for quesadillas.

Persons: Corey Robinson, Abercrombie, Robinson, Pink, Chef Pii, Pii, naysayers, TikTokers, hashtag, Keith Lee, Lee, Kwame Boakye, TikToker Alex Frost, Chipotle, Brian Niccol Organizations: Street Journal, Morning, Abercrombie & Fitch, Fitch, Walmart, Dave's Gourmet, NielsenIQ, McKinsey & Company, Fire Locations: Orlando

☆ Chipotle wants you to think composting before burrito bowl becomes trash
▼ + stars: | 2023-06-18 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

Composting has been a key part of that for Chipotle, and the fast-casual restaurant chain is expanding that focus this year. In 2023, Chipotle has set a goal to institute composting programs in at least 23% more restaurants, or approximately 234 additional locations. In certain jurisdictions, compostable products have to be fiber-based, while in others plant-based compostable products are accepted. Infrastructure is key for Chipotle, Shibata said, as there are many Chipotle restaurants in areas where there is no facility that can compost certain items. She sees more jurisdictions pushing in the direction of more composting, and said that a focus from companies like Chipotle on composting will help generate momentum.

Persons: Brandon Bell, Chipotle, Brian Niccol, Laurie Schalow, Lisa Shibata, Shibata, We've, Frank Franciosi, Franciosi, Schalow Organizations: Mexican Grill, Getty, composted, Companies, New, New York City, Seattle Locations: Mexican, Austin , Texas, Chipotle, U.S, New York, West Coast, San Francisco

☆ 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.

☆ Here are the most overbought and oversold S&P 500 stocks, including several tech names
▼ + stars: | 2023-04-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

One metric to determine if a stock is overbought or oversold is the "relative strength index," which measures the magnitude and speed of price moves. An equity with a 14-day RSI under 30 is considered oversold, which means it may be an opportunity to buy. Meanwhile, those with a 14-day RSI above 70 are considered overbought — and the names could be due for a pause. CNBC Pro screened for S & P 500 stocks in both the overbought and oversold territory, based on their RSI. Valero Energy has the lowest 14-day RSI on the list, at 16.67.

☆ Inflation Cooled in March, but Stubborn Price Increases Remain
▼ + stars: | 2023-04-28 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

The central bank meets on May 3 to make its next policy decision, and officials are widely expected to raise rates by a quarter percentage point to just above 5 percent. Both incoming price and wage data and financial news could inform whether they feel comfortable hitting pause. The Fed will also need to weigh turmoil in the banking sector as it considers its next move. Problems in the industry can slow lending to consumers and businesses, weighing on the economy. Personal spending was flat in March compared with the month before, Friday’s report showed, after falling 0.2 percent in February after adjusting for inflation.

☆ Chipotle says it has seen some of its best digital sales after launching its TikTok-inspired Fajita Quesadilla
▼ + stars: | 2023-04-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Chipotle added the Fajita Quesadilla to its menu last month, inspired by a viral TikTok menu hack. During the launch, quesadilla sales nearly doubled and Chipotle had two of its best-ever digital sales days. It is inspired by a menu "hack" of adding fajita veggies to its steak quesadilla that went viral on TikTok in 2022. Adding fajita veggies – pepper and onion – to a quesadilla was not previously an option at Chipotle. "During the launch, we nearly doubled our Quesadilla business and had two of our top digital sales days of all time."

☆ Stocks making the biggest moves midday: Microsoft, Chipotle, Boeing, First Republic Bank and more
▼ + stars: | 2023-04-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves midday:Microsoft — Shares of tech giant Microsoft gained more than 8% Wednesday after a better-than-expected earnings report a day earlier. The company earned $1.17 per share on $69.79 billion in revenue, while analysts polled by Refinitiv expected it to earn $1.07 per share on revenue of $68.9 billion. The company also announced a $70 billion share buyback. 107230585First Republic — Shares of the regional bank fell more than 20% on Wednesday, extending their steep losses for the week. However, deposits for the first quarter totaled about $28.2 billion, down from $33.9 billion from the fourth quarter of 2022.

☆ Chipotle just revealed a top reason customers demand refunds — and has a plan to prevent them
▼ + stars: | 2023-04-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Chipotle's app now lets customers know if they are going to the wrong location to pick up an order. Digital orders have slowed down for Chipotle since the early pandemic but remain a source of growth. The new notifications use improved technology to determine customers' locations as they order. Digital sales at the Mexican-grill chain reached $3.4 billion in 2021, thanks to improvements to its app and early-pandemic demand for delivery. Digital sales represented 39.4% of all sales in 2022, several percentage points lower than 46.2% in 2020.

☆ Chipotle is trying to make life easier for its employees with digital tipping, fast-cooking grills, and streamlining a complicated TikTok menu hack
▼ + stars: | 2023-04-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Chipotle rolled out changes to its restaurants to make employees' jobs easier, its CEO said. The changes include faster-cooking grills, digital tipping, and a TikTok-inspired quesadilla. The chain unveiled the changes, from faster cooking times for meats to digital tipping, over the last few months. Jobs working the grill are "one of the hardest positions to train" at the average Chipotle restaurant, Niccol said when an analyst asked about the new grills. Chipotle also started offering digital tipping at its stores over the last few months "as part of our ongoing effort to enhance our crewmember benefits," Niccol said.

NEW YORK, April 26 (Reuters) - Shares of Chipotle Mexican Grill Inc (CMG.N) soared to a record high on Wednesday after the burrito chain beat analysts' estimates for first-quarter profit and sales. Chipotle said its revenue rose 17% year-on-year to $2.4 billion, driven by higher restaurant sales, 41 new store openings, and increased demand from lower-income customers. Net income rose to $291.6 million, up 84% from the previous year, helped by lower avocado prices and lower delivery expenses. Chipotle's shares rose 14% to $2,030 in afternoon trading. More than a dozen Wall Street analysts hiked their price targets on the stock in reaction to the company's report.

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.

☆ Chipotle Mexican Grill's restaurant traffic grows as the chain proves its pricing power
▼ + stars: | 2023-04-25 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Like McDonald's , Chipotle said traffic to its restaurants grew during the first quarter despite higher menu items. Chipotle Mexican Grill on Tuesday reported quarterly earnings and revenue that topped analysts' expectations, fueled by better than expected same-store sales growth. In February, executives said January's same-store sales grew by double digits. Looking to the rest of the year, Chipotle is anticipating same-store sales growth in the mid-to-high single digits. It's expecting the same range for its second-quarter same-store sales growth, roughly in line with StreetAccount estimates of 5.8%.

☆ Chipotle Mexican Grill to launch new spinoff, Farmesa Fresh Eatery, in a ghost kitchen
▼ + stars: | 2023-02-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Chipotle Mexican Grill is launching a new spinoff, called Farmesa Fresh Eatery, in a California ghost kitchen. And, "when the time is right," Lawton said, Chipotle will use its loyalty program database to attract potential Farmesa customers. When opened, the Santa Monica location will be Kitchen United's 24th ghost kitchen. For Chipotle, Kitchen United's model allows the restaurant chain to test out the new brand with reduced risk. For now, Chipotle's chief purpose with the location is simply to learn, but that doesn't mean Farmesa won't grow.

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