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Chipotle Mexican Grill's food prices are increasing by approximately 2% to offset inflation costs, according to Chipotle’s chief corporate affairs officer Laurie Schalow.
In a list of fastest-growing restaurant chains in 2009, Chipotle was ranked eighth, based on increases in U.S. sales over the past year, [29] and in 2010 Chipotle was ranked third. [30] Consumer Reports ranked Chipotle as the best Mexican fast-food chain in 2011. [ 31 ]
Chipotle expects to raise its prices even more later in 2024 due to an upcoming fast-food minimum wage increase in California, under which workers will make at least $20 an hour starting on April 1.
The confirmation came following an analyst report dated Dec. 4 by Truist Securities financial group showing Chipotle had increased prices by 2% on proteins at 20% of its restaurant locations surveyed.
Chipotle said in its third quarter earnings call in October that food, beverage and packaging costs in the third quarter of 2024 were 30.6% of total revenue, an increase from 29.7% in the third ...
Chipotle Mexican Grill (NYSE: CMG) has been a wonderful business for investors. In the past five years, share prices of the thriving Tex-Mex restaurant chain have risen 298%. That gain crushes the ...
Chipotle raised menu pricing by about 4% in August 2022 amid rising costs for labor and ingredients. The company also lifted prices an additional 2% to 3% in 700 restaurants where wages were soaring.
Chipotle has also attributed some of the recent price hikes to its own rising costs. During the April investor call, for example, Hartung mentioned the company was dealing with elevated costs for ...
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