Current Events > Chipotle doesn't need a dollar menu, CFO says

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https://finance.yahoo.com/news/chipotle-dollar-menu-105346745.html

Chipotle has no plans to start offering McDonald's-like value meals to entice lower-income consumers back to its restaurants after implementing a series of inflation-driven price hikes this year. "We don't think Chipotle is the brand where somebody is looking for a dollar menu or bundle meal," Chipotle CFO Jack Hartung said on Yahoo Finance Live (video above). "They look for customization. Most customers get the same exact entree every single time, and that's what they crave." Chipotle last raised prices by a mid-to-high single-digit percentage in August to help offset higher costs for wages and food inputs. The company raised prices by about 4% in the first quarter as well. The company told analysts on an earnings call late Tuesday that lower-income consumers were visiting the fast-casual chain less often due to the higher prices. At the same time, however, the company noted that Chipotle's same-store sales in October are trending up by a mid-single-digit percentage.

"We had this exact discussion [on value meals] the last time, during the Great Recession," Hartung said. "We saw consumers did start to reduce their dining experiences. And with Chipotle during that time, our comps held up better than every other restaurant company our transactions were slightly negative. We did see some transactions dip. As the recession was starting to end, our transactions came roaring back and we had double-digit comps from there." "So we have seen this before," Hartung added. "And during that time we did talk about should we offer value meals, should we offer a bundle meal where consumers can eat for at the time was less than $5. Our customers said great idea, go ahead and do it. When we tested it in restaurants, nobody bought it. Everybody said, 'I love my chicken burrito.'"

I also dont need a $14 burrito

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Ohaider Patrick Soderlund. Glad to see you havent learned your lesson from Battlefield V.

Every time I've tried to go to Chipotle this year something was wrong. I went to 3 different stores. One didn't have burritos becuase their wamer was broken for a month. One was just completely disgusting; gross customers and workers flagrantly ignoring health standards. One closed early because they were short staffed.

Don't see myself ever going back, tbh.

They don't, they have fooled people into thinking they are quality.

No thanks, I've already (not) had e.coli

People still eat at Chipotle? I don't think I've been to one since their lettuce e.coli thing back in 2016

Qdoba or Freebirds

Chipotle used to be my go to place. Id have it fairly often. Inflation hit it badly, that shit is expensive as fuck now so its pretty rare for me to have it.

I'm not saying they need to be as extreme as a dollar menu, but yea with their current prices I think they need to come up with something.

of course they dont need it. they have too many customers. theres no point of a dollar menu.

Bleuets posted...

Chipotle used to be my go to place. Id have it fairly often. Inflation hit it badly, that shit is expensive as fuck now so its pretty rare for me to have it.

it's 6$ more than i would spend for a burrito (a really good one).

The weird thing about Chipotle is that they are significantly more expensive here than most actually good taquerias

VampireCoyote posted...

I also dont need a $14 burrito

My local Mexican place will sell you a good burrito with rice and beans, unlimited chips and salsa, and a pint of Negra Modelo for $14.

Chipotle is fucking terrible

kelemvor posted...

My local Mexican place will sell you a good burrito with rice and beans, unlimited chips and salsa, and a pint of Negra Modelo for $14.

sold

Chipotle is not worth the price anymore when I can go to a sit down Mexican restaurant for a couple dollars more for larger portions, sides and alcohol.

Thats some expensive diarrhea.

Chipotle is too bland

Every time I get Chipotle the only thing I taste is lime and salt.

VFrench1865 posted...

People still eat at Chipotle? I don't think I've been to one since their lettuce e.coli thing back in 2016

Qdoba or Freebirds

I thought all the freebirds closed

nothing on it would actually only be a dollar anyway

Love the Chipotle food going in part, but the going out part really stinks.

Their most recent menu addition which is steak again but with garlic is absurd. They charge 12 bucks for this garlic streak at my local one, who the fuck is gonna buy that