Chipotle's New Turnaround Plans Critical for Customer Experience but Raise Execution/Cost Questions
Narrow-moat Chipotle used its third-quarter update to provide a more detailed blueprint for driving customers back to its restaurants, most of which sounds reasonable on paper but also raises execution and cost questions.It's clear that Chipotle is struggling to reconnect with consumers, evidenced by the 21.9% comp decline during the quarter (including a 15.2% decrease in comparable traffic) and roughly 20% declines thus far in October. Management confirmed our suspicion that the implementati...
Chipotle Mexican Grill together with its subsidiaries operates Chipotle Mexican Grill restaurants, which feature a menu of burritos, burrito bowls (a burrito without the tortilla), tacos, and salads. The company operates Chipotle restaurants throughout the United States, international Chipotle restaurants, and non-Chipotle restaurants. The company uses various herbs, spices and seasonings to prepare its meats and vegetables. The company also serves tortilla chips that seasoned with lime juice and salt, with sides of hand mashed guacamole, salsas, or queso. In addition to sodas, fruit and tea drinks, and organic milk, most of the company's restaurants also provide a selection of beer and margaritas.
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