Chipotle Mexican Grill, Inc.NYSE
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  • Tue, Dec. 6, 10:56 AM
    • Chipotle (CMG -7%) says it will consider firing off some menu increases next year to help it offset wage pressure.
    • Execs indicated an effort will me made to keep a lid on labor costs by setting a hiring freeze.
    • In a pair of tough observations, the presenters said the company is "nervous" about hitting its guidance and that the longer lines at stores are a result of slower throughput (line speed) not just a boost in actual traffic.
    • "I'm not satisfied with the rate of recovery and the quality of the restaurant experience," said co-CEO Steve Ells.
    • A very interesting development will be the makeup of the new Chipotle board with Bill Ackman breathing down the restaurant operator's neck. An announcement is expected shortly.
    • Sources: Bloomberg and Reuters.
    | Tue, Dec. 6, 10:56 AM | 43 Comments
  • Tue, Dec. 6, 9:02 AM
    • Presenting at a Barclays conference, Chipotle (NYSE:CMG) says now's not the time, but it will need to raise prices to offset increases in the minimum wage. Price increases will be considered at some point in 2017.
    • Shares -4.25% premarket
    | Tue, Dec. 6, 9:02 AM | 29 Comments
  • Mon, Dec. 5, 1:58 PM
    • Kroger (KR -1.3%), Target (TGT -1.2%) and Wal-Mart (WMT -1%) are all lower on the day after Amazon introduces its line-free Amazon Go concept in Seattle.
    • It's unclear how wide Amazon plans to go with the brick-and-mortar store chain which utilizes a grab-and-go experience for consumers with payments run through a combination of scanners, sensors, apps and AI.
    • In the initial phase, Amazon Go will feature ready-to-eat-meals as it jumps into a category that skirts close to the territory of Whole Foods Market (WFM), Chipotle (CMG +0.7%) and other fresh food sellers.
    • Previously: Amazon introduces new store concept with no checkout lines (Dec. 5)
    • Previously: Cowen and Company's bullish on Amazon Go (Dec. 5)
    | Mon, Dec. 5, 1:58 PM | 17 Comments
  • Mon, Dec. 5, 8:04 AM
    • One of the more interesting conferences in the retail sector during Q4 starts off today in New York City. The Barclays 2016 Eat, Sleep, Play - It's All Discretionary Conference will feature execs talking 2017 strategy, as well as doling out some post-election and post-Black Friday insights.
    • Presenters today include The Chef's Warehouse (NASDAQ:CHEF), Smart & Final Stores (NYSE:SFS) and Sprouts Farmers Market (NASDAQ:SFM).
    • Tuesday presenters include Chipotle (NYSE:CMG), The Cheesecake Factory (NASDAQ:CAKE), Yum Brands (NYSE:YUM), Kroger (NYSE:KR), Jack in the Box (NASDAQ:JACK), Domino's Pizza (NYSE:DPZ), Marriott International (NYSE:MAR) and Wingstop (NASDAQ:WING).
    • Discretionary-focused ETFs: XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PEZ, PMR, PSCD, CNDF, FTXD, JHMC.
    | Mon, Dec. 5, 8:04 AM
  • Tue, Nov. 29, 12:46 PM
    • SunTrust Robinson Humphrey says "dramatically lower" avocado prices could help lift profit at Chipotle (CMG -0.5%) this quarter and potentially into 2017.
    • Food costs rose 210 bps to 35.1% of sales for Chipotle in Q3, due in part to avocado pricing.
    • Analyst Jake Bartlett still has a Q4 EPS estimate of $0.95 for CMG vs. the Street consensus of $1.06.
    • Source: Bloomberg
    | Tue, Nov. 29, 12:46 PM | 2 Comments
  • Fri, Nov. 18, 7:38 AM
    • Chipotle (NYSE:CMG) and Pershing Square are close to striking an agreement that will give the firm a voice in board representation, reports The Wall Street Journal.
    • Chipotle is actively looking for new board members.
    • William Ackman's firm holds a 9.9% stake in Chipotle.
    | Fri, Nov. 18, 7:38 AM | 6 Comments
  • Thu, Nov. 17, 6:59 AM
    • Guggenheim lowers Chipotle (NYSE:CMG) to a Sell rating after having the restaurant stock set at Neutral.
    • The investment firm lines up a price target of $315 on Chipotle vs. the 52-week range of $352.96 to $614.70.
    • There are 7 Sell ratings on CMG now from Wall Street firms, compared to 11 Buy ratings.
    • CMG -1.02% premarket to $398.79.
    | Thu, Nov. 17, 6:59 AM | 18 Comments
  • Fri, Nov. 11, 11:57 AM
    • Chipotle Mexican Grill (CMG +1.5%) says its Tasty Made offshoot burger restaurant that opened last month in Ohio is enjoying "strong" sales.
    • CMG hopes Tasty Made, which is touting responsibly raised beef, could become a bright spot for a company still reeling from a food-safety crisis, as Q3 same-store sales plunged 21.9%.
    • Tasty Made's Yelp reviews are mediocre but improving over the past two weeks; it is currently approaching a three-star rating, out of five.
    | Fri, Nov. 11, 11:57 AM | 23 Comments
  • Fri, Nov. 4, 5:35 PM
    • Chipotle Mexican Grill (NYSE:CMG) and Pershing Square's Bill Ackman have signed an agreement to engage in confidential discussions, a sign that change could be coming for the company without a costly and drawn-out proxy contest, Reuters reports.
    • Ackman, who took a nearly 10% stake in CMG two months ago and has not disclosed his strategy, wants multiple board seats with the aim of improving food safety and marketing, according to the report.
    • Two major investors this week reportedly urged CMG shareholders to name an independent chairman, replacing founder and co-CEO Steve Ells, and hope to take up the issue the next annual meeting.
    • CMG shares have lost 40% since a series of food borne illness outbreaks were linked to the chain late last year.
    | Fri, Nov. 4, 5:35 PM | 12 Comments
  • Fri, Nov. 4, 10:32 AM
    • Avocado prices are due to drop sharply in the U.S. after a work stoppage in Mexico ended. Prices hit a record high recently due to strong demand, an extended drought in California and the labor strife in Mexico.
    • "Avocados are flowing freely and abundantly into this country," says an avocado trade group representative.
    • Companies impacted by avocado pricing include Calavo Growers (CVGW +0.6%) on the selling side and Chipotle (CMG -0.6%) and Panera Bread (PNRA -0.8%) on the buying side.
    | Fri, Nov. 4, 10:32 AM | 5 Comments
  • Tue, Nov. 1, 12:11 PM
    • The reviews of Tasty Made are mixed at best, according to an aggregation of early samplers posted by
    • The pricing from Tasty Made of $3.75 for a hamburger and $3.95 for a cheeseburger seems to be drawing the sharpest criticism on the new Chipotle (CMG -0.7%) concept.
    • Tasty Made and Pizzeria Locale are the two "seed concepts" that Chipotle plans to grow, while the 15-unit ShopHouse Southeast Asian Kitchen chain is under a strategic review.
    | Tue, Nov. 1, 12:11 PM | 8 Comments
  • Mon, Oct. 31, 3:49 PM
    • Chipotle (CMG -2.4%) drifts lower again to a session low of $360.15. The restaurant stock is also at a new multi-year low.
    • It's been exactly one year since the restaurant chain fell victim to a devastating E. coli outbreak.
    • Looking ahead, SA contributor Kevin Wenck notes the company's decision to shutter ShopHouse takes some of the punch out if its growth potential.
    • "The failure of the ShopHouse concept as an expansion vehicle shows the limitations and lack of capabilities of CMG management," he adds.
    | Mon, Oct. 31, 3:49 PM | 6 Comments
  • Mon, Oct. 31, 3:42 PM
    • Valeant has tumbled more than 5% as Bloomberg reports the government as probing the company, and maybe ex-management, for potential accounting fraud charges.
    • The news is leaking into another big Bill Ackman investment, Chipotle (CMG -2.6%).
    | Mon, Oct. 31, 3:42 PM | 23 Comments
  • Fri, Oct. 28, 2:46 AM
    • Chipotle (NYSE:CMG) has turned to high-profile investment bankers and lawyers to help defend itself against activist investor Bill Ackman, although he hasn't yet publicly made any demands since becoming Chipotle's second-largest shareholder last month.
    • According to Reuters, Goldman Sachs and Morgan Stanley, as well as law firm Wachtell, Lipton, Rosen & Katz, are now working for the U.S. restaurant chain.
    | Fri, Oct. 28, 2:46 AM | 12 Comments
  • Thu, Oct. 27, 12:38 PM
    • Chipotle (CMG -0.6%) launched its Tasty Made business today, with a restaurant opening in Lancaster, Ohio complete with a drive-through window.
    • The company is keeping it simple with the new chain by only selling burgers, fries and shakes.
    • Similar to Five Guys and In-N-Out Burger, burger patties at Tasty Made are cooked fresh, instead of using the frozen fast-food model. The new concept isn't anything for Shake Shack (NYSE:SHAK) and Habit Restaurants (NASDAQ:HABT) to worry about just yet, but the chains will keep a watch on the Tasty Made roll-out.
    • Now who in Lancaster can tell us how a Tasty Made burger rates?
    | Thu, Oct. 27, 12:38 PM | 38 Comments
  • Wed, Oct. 26, 8:34 AM
    • Execs with Chipotle (NYSE:CMG) tried to accentuate the positive during the firm's conference call yesterday.
    • The company plans to market chorizo pretty hard after the new menu option accounted for 7% of entree sales in Q3. Repeat traffic from chorizo lovers is expected in Q4.
    • There is also still plenty of upside seen with digital ordering as the chain tests out a new line at stores.
    • Challenges that are still in front of the company outside of the traffic falloff include the higher level of wages and the huge spike in avocado prices.
    • Chipotle will pull the plug on the ShopHouse concept after seeing disappointing results.
    • Chipotle earnings call transcript
    • Previously: Chipotle Mexican Grill misses by $1.03, misses on revenue (Updated) (Oct. 25)
    • Previously: Comparable sales fall 22% at Chipotle (Oct. 25)
    • CMG -3.37% premarket to $392.00.
    | Wed, Oct. 26, 8:34 AM | 12 Comments