Chipotle stock fell more than 10% Tuesday as the company announced CEO Brian Niccol would be leaving his role on Aug. 31 to become CEO of Starbucks. Niccol began as Chipotle CEO in March 2018. Chipotle stock has risen more than 770% since since he took over. Chipotle’s board named Chief Operating Officer Scott Boatwright … Read more
Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol as the coffee chain tries to reverse a sales slump, sending its stock soaring more than 20%. Chipotle’s stock fell 10% on the news that Niccol would leave after a successful tenure at the burrito chain. Narasimhan’s departure is effective immediately. Starbucks … Read more
A sign advertises meal deals at a McDonald’s restaurant in Burbank, California, on July 22, 2024. Mario Tama | Getty Images Restaurant CEOs have become obsessed with the word “value” in explaining to investors why their sales lagged this quarter while sharing plans to revive traffic in the coming months. On McDonald’s quarterly conference call … Read more
A Chipotle restaurant in New York on July 3, 2023. Jeenah Moon | Bloomberg | Getty Images Chipotle Mexican Grill on Wednesday reported quarterly earnings and revenue that topped analysts’ expectations as it saw higher traffic at its restaurants, bucking an industry slowdown. Shares of the company rose more than 10% in extended trading. Here’s … Read more
When Walmart announced earlier this summer that it would add digital shelf labels to more of its stores, the discounter said the move would cut another tedious task from store workers’ to-do lists. Customers didn’t necessarily see it that way. On TikTok, some criticized the higher-tech price tags as the first step toward the nation’s … Read more
People walk past a Sweetgreen restaurant in Manhattan on September 14, 2023. Jeenah Moon | The Washington Post | Getty Images With higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers. But Big Macs and kitchen remodels aren’t. The most recent … Read more
A food delivery messenger carries a take-out bag outside a Sweetgreen in Manhattan, New York City, on Sept. 14, 2023. Jeenah Moon | The Washington Post | Getty Images High-income consumers helped Chipotle Mexican Grill, Wingstop and Sweetgreen report strong sales this quarter, bucking the broader consumer slowdown that’s been hurting other eateries. As a … Read more
Chipotle is launching Farmesa Fresh Eatery first at Kitchen United’s upcoming Santa Monica location. Source: Chipotle Mexican Grill 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 … Read more
An employee carries an order for a customer at a Domino’s Pizza restaurant in Detroit. Sean Proctor | Bloomberg | Getty Images Forget the battle for chicken sandwich supremacy. The loyalty program wars are coming. Restaurant digital orders surged 124% in the year ended in March, according to market researcher NPD Group. And … Read more
