Chipotle plans price increases after pausing hikes this year
Publishing timestamp: 2023-10-11 17:31:50
Summary
Chipotle Mexican Grill plans to raise menu prices again to offset inflation. The company had paused price hikes for over a year but now feels the need to increase prices due to rising costs. The exact amount of the price increase has not been disclosed. Inflation has cooled since last year, but prices for goods and services are still rising at a slower rate. Chipotle's stock has performed well this year, and the company is expected to report its third-quarter earnings on October 26th.
Sentiment: NEUTRAL
Tickers: CMG,
Keywords: chipotle mexican grill inc, business, prices, inflation, retail industry, business news, breaking news: business, brian niccol, restaurants,
Source: https://www.cnbc.com/2023/10/11/chipotle-plans-price-increases-after-pausing-hikes-this-year.html