- July 23, 2021
- Posted by: Stratford Team
- Category: Business
Lunchtime at Chipotle Mexican Grill Inc. is picking up, according to Chief Financial Officer Jack Hartung, a sign that workers are heading back to their offices, and back to their midday meal routines.
“We’re seeing Monday through Friday lunch coming back in a big way,” Hartung told MarketWatch. “As people go back to work, in-store ordering is coming back.”
reported earnings that blew past consensus, sending shares soaring 11.5% in Wednesday trading, and to a record close of $1,755.99. Shares rose another 2.2% in Thursday trading.
Digital sales grew 10.5% and accounted for 48.5% of total sales. Even as the fast-casual chain has recovered 70% of in-store sales, Chief Executive Brian Niccol said on the earnings call that the company has held on to 80% of digital sales.
Chipotle raised prices recently to cover the wage hikes that the company put in place to…