Chipotle CEO Seeks to ‘Modernize’ Kitchens with Robots
Chipotle's new CEO Scott Boatright reportedly wants to “modernize” restaurants with robots working in the kitchen. “It's my endeavor to really modernize the kitchen,” says Boatwright. said Yahoo Finance. “It's been exactly the same for 30 years.” Boatwright added that Chipotle's kitchen automation is critical to the company's expansion, which reportedly has a goal of […]
Yes, Chipotle is raising menu prices again: Here's why
(NEXSTAR) — I'm not imagining it. That burrito bowl got a little pricey. Chipotle Mexican Grill recently confirmed that it has increased menu prices across the United States. “To offset inflation, we implemented modest price increases of approximately 2% nationwide for the first time in more than a year,” Chipotle Chief Executive Officer Lori Shallow […]
Chipotle shares jump after price-hike over inflation costs
Chipotle Mexican Grill announced Wednesday that it has raised menu prices by about 2% as the burrito chain combats rising ingredient costs amid an uncertain demand environment for U.S. restaurants. The stock rose 5% to $63.99. The stock is up 42% this year. Prices for key ingredients such as dairy products, beef and avocados have […]
Chipotle may soon hike burrito prices again — here’s why
Chipotle is reportedly considering raising prices to cope with rising costs for ingredients such as avocados, queso and sour cream. said Adam Reimer, the Newport Beach, Calif.-based company's new financial director. told the Wall Street Journal He believes customers will continue to flock to Chipotle despite the “modest” price increases. Because this chain is a […]
Chipotle shareholder sues company amid portion frenzy
Barron's Roundtable panelists provide economic outlook and analyze Starbucks and Chipotle stocks. Chipotle shareholders are suing the company, claiming they faced “significant losses” due to the alleged portion size reductions that caused an uproar on social media. A proposed class action lawsuit was filed on Monday on behalf of Michael Stratford. Michael Stradford claimed that […]
Chipotle shareholders sue over fallout from skimping on portion sizes
Chipotle Mexican Grill was sued Monday by a shareholder who said the company covered up the fact that many of its restaurants skimped on portions, forcing the chain to pay more for food and hurting its stock price. Shareholders say in a proposed class action lawsuit filed in federal court in Santa Ana, California, Chipotle […]
Chipotle exec blames sales slump in California on inflation — not state’s $20 minimum wage
Chipotle President Jack Hartung said California consumers are spending less because of inflation and insisted that price hikes following the state's new $20 minimum wage were not a factor in the decline in sales. “I think it's a macro resistance to inflation in general and in California.” Hartung said in an interview with CNBC's Jim […]
Chipotle rolls out robot machines to make guacamole in Calif.
Chipotle has moved its automated salad bowl makers and avocado-processing robots from its test kitchens to several of its California locations. The chain announced the launch on Monday and said feedback will determine whether to roll out the technology more broadly. Both restaurants are in California, where all fast-food chains are required to pay workers […]
Bill Ackman, investors still back Chipotle after CEO Brian Niccol leaves
Chipotle Mexican Grill Inc.’s future may not be as shaky as some shareholders fear following the departure of Chief Executive Officer Brian Niccol, investors said. The burrito chain’s shares fell nearly $6 billion on Tuesday after the company announced that Mr. Nicol would leave the company at the end of the month to become CEO […]
Starbucks hires Chipotle boss Brian Niccol as next CEO
Starbucks reportedly announced on Tuesday that it was replacing current CEO Lakshman Narasimhan with Chipotle leader Brian Niccol after months of sluggish sales. Niccol has been widely praised for turning around Chipotle’s business, helping to drive up the company’s stock price by more than 50 percent over the past year, the company said. Niccol will […]