Chipotle may have a union fight of its own brewing

Jun. 23, 2022 10:30 AM ETChipotle Mexican Grill, Inc. (CMG)SBUXBy: Clark Schultz, SA News Editor5 Comments

New York City Sues Chipotle For $150 Million Over Workweek Law Violations

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Chipotle Mexican Grill (NYSE:CMG) is the latest retail chain to hear calls for unionization after employees at a location in Augusta, Maine, filed a petition for a union election, according to CNBC.

The Maine AFL-CIO said that workers at the restaurant are demanding safe, adequate staffing at their store as they take steps to form the new Chipotle United union.

The restaurant industry has been on watch after a union push at Starbucks(SBUX) quickly grew to over 150 stores. However, investors might not need to panic. Unionization efforts can take time as the formal process plays out and may not factor into any near-term earnings results for Chipotle (CMG).

Shares of Chipotle (CMG) fell in early trading on Thursday. Over the last 52 weeks, CMG has the 5th best share price return of the 47 publicly-traded restaurant stocks.

Read why Seeking Alpha author RCK Analytics thinks Chipotle is attractive following the share price decline.

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