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Today, 3:45 PM
- Management with Chipotle (CMG -3.3%) detailed with workers some of the new advanced protocols that are in place to improve food safety. Clearly, there will be some additional costs to implement the changes.
- The exact cause of the E. coli outbreak is unknown, although it's believed that contamination spread from one food group to another at the chain.
- Employees were given direct instructions to stay at home if they are sick.
- A new central reporting entity called SSR will bring data monitoring into the equation.
- Chipotle Twitter timeline
Today, 2:57 PM
- Momentum favorites Chipotle (CMG -4.2%), Under Armour (UA -8.8%), Lululemon (LULU -6.5%), and Tesla Motors (TSLA -9.1%) are getting bashed again as investors decrease their risk tolerance.
- The blended loss for the four CULT stocks is steeper than what the FANG stocks are peeling off on the day.
- Aside from investor anxiety, Chipotle took a long lunch break today, while Tesla is reeling from analyst resets.
- Previously: Is it time for Tesla Motors to take on a strategic partner? (Feb. 08 2016)
- Previously: Chipotle's lunch break begins (Feb. 08 2016)
Today, 11:38 AM
- Chipotle's (CMG -2.6%) company-wide meeting on food safety is underway.
- Founder Steve Ellis says over 50K employees are tuned in via satellite across 400 locations in the U.S. Several Periscope feeds also have the meeting.
- Co-CEO Montgomery Moran: "We worked with experts who helped us create the most effective food safety program possible."
- Shares of CMG are still at session lows as the rah-rah isn't influencing investors.
- Previously: Chipotle to close all stores for food safety session (Feb. 08 2016)
Today, 3:33 AM
- Chipotle (NYSE:CMG) is closing its more than 2,000 restaurants until 3 p.m. today to address employees about the food-borne illnesses that have put a severe crimp in its financial performance and have led to lawsuits and a federal investigation.
- According to Chipotle, the event will be used to thank employees for their hard work in learning new food safety protocols and explain the steps the company is taking to improve food safety.
- Previously: Chipotle shutting down on Feb. 8 to address food safety; shares +4.5% (Jan. 15 2016)
Fri, Feb. 5, 8:38 AM
- A breakdown by NPD Group indicates that former Chipotle (NYSE:CMG) customers scattered to the wind.
- No single chain stood out based on checkout tracking - although McDonald's, Wendy's, Burger King, and Chick-fil-A all brought in new customers. The low concentration of customers to a single chain could make it easier for Chipotle to reel them back in.
- Many analysts have identified Qdoba and Panera as possible beneficiaries, but they weren't mentioned in the NPD release.
- Chipotle investors can take heart that younger consumers showed strong brand loyalty to the restaurant chain during the outbreak period, according to NPD data.
- Deeper dives into Chipotle (bullish and bearish) are listed below.
- Related: Chipotle's Brand Crisis Will Pass (Feb. 03 2016)
- Related: Chipotle: Don't Hold Your Breath For A Recovery (Feb. 03 2016)
- Related: Chipotle: Okay To Take A Bite At Current Price (Feb. 03 2016)
- Related: Some Clear-Headed Thoughts On Chipotle (Feb. 03 2016)
- Related: Chipotle Q4 Verdict: This Company Is Uninvestable (Feb. 03 2016)
Wed, Feb. 3, 9:30 AM
- Chipotle (NYSE:CMG) price target cuts are flying in from Wall Street after the company's earnings report and conference call disclosures.
- Wall Street PT action: Jefferies to $390 from $420, Credit Suisse to $475 from $530, Goldman Sachs to $550 from $600, Cowen and Company to $412 from $425.
- During the conference call, Chipotle execs said January comps were down 36% in a stunning falloff (earnings call transcript).
- On Seeking Alpha, contributor Orange Peel Investments indicates things could actually be "significantly worse" for the restaurant chain in 2016. Orange Peel sees fair market value in the neighborhood of $300.
- CMG -3.79% to $457.99.
Wed, Feb. 3, 9:19 AM
Wed, Feb. 3, 4:56 AM
- A federal criminal probe linked to a food-safety incident at Chipotle (NYSE:CMG) has widened into a national investigation, sending the burrito chain's shares down 8.6% to $437 in after-hours trading on Tuesday.
- The stock has plunged in recent months amid an outbreak of E.coli and norovirus at its restaurants that sickened dozens, with same-store sales tumbling 14.6% in Q4.
- Chipotle also reported its first quarterly revenue decline (-6.8% to $997.5M) in its history as a public company.
- Previously: Chipotle -1.6% as sales, margins slid in outbreak (Feb. 02 2016)
Tue, Feb. 2, 5:38 PM
Tue, Feb. 2, 4:42 PM
- Chipotle Mexican Grill (NYSE:CMG) is off 1.6% after hours after reporting revenues that dropped 6.8% and missed expectations amid a CDC investigation of E. coli bacteria incidents at its restaurants.
- It said same-store sales tumbled 14.6% Y/Y, and restaurant level operating margin slid 700 basis points to 19.6%.
- Store count rose by 79 in Q4, to bring the total to 2,010. Food cost ratio was down 120 bps to 33.8% of revenue, with continuing relief in dairy and avocado prices, and a decline in beef prices.
- For 2016, it sees 220 to 235 new openings and a full-year effective tax rate of about 39%.
- Conference call to come at 5 p.m. ET.
- Press release
Tue, Feb. 2, 4:32 PM
Mon, Feb. 1, 5:35 PM
Mon, Feb. 1, 1:32 PM| Mon, Feb. 1, 1:32 PM | 5 Comments
Mon, Feb. 1, 9:38 AM
- Chipotle (NYSE:CMG) jets higher in early trading on reports the CDC is poised to announce the "all-clear" on the restaurant chain.
- SA contributor Orange Peel Investments warns that buying ahead of the company's earnings report could be risky with the potential for more negative disclosures from management.
- Hedgeye's Howard Penney is of a similar mind that algorithmic trading could be behind the Chipotle bump today.
- Channel checks on Chipotle traffic from a variety of sources this month haven't been encouraging.
- Previously: WSJ: CDC to declare end of Chipotle E.coli outbreak (Feb. 1)
- CMG +5.30% to $476.00.
Mon, Feb. 1, 2:48 AM
- The E. coli outbreak that affected dozens of Chipotle (NYSE:CMG) customers in nine states last year is expected to be declared over as soon as Monday, WSJ reports.
- Although it's been more than two months since any new illnesses have been reported, investigators still haven't been able to pinpoint the ingredient responsible for the contamination.
- Chipotle is also planning to start an advertising and social-media campaign soon to woo back its most loyal customers.
Mon, Jan. 25, 10:05 AM
- McDonald's franchisee Arcos Dorados (NYSE:ARCO) is up 1% after McDonald's reports strong Q4 results.
- It's a different story for Chipotle (CMG -1.8%), Restaurant Brands (QSR -1.9%), Sonic (SONC -1.1%), and Jack in the Box (JACK -2.2%) which are showing some of the sharpest losses in the restaurant sector in early trading. Concerns over McDonald's taking some market share in the U.S. may be playing in a bit.
- Previously: McDonald's beats by $0.08, beats on revenue (Jan. 25 2016)
- Previously: McDonald's turns positive comp in all segments (Jan. 25 2016)
Chipotle Mexican Grill Inc together with its subsidiaries operates Chipotle Mexican Grill restaurants, which serves a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads, made using fresh ingredients.
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