Chipotle (NYSE:CMG) trades higher after execs laid out the company’s plan to recover from last week’s spate of negative news.
A comprehensive manager training program will be set in place in an attempt to avoid any more health incidents.
New initiatives cycling up at Chipotle include testing of pickup windows, a “tech-enabled” second make line, the roll-out of queso and an updated mobile app.
Perhaps the most important reveal from the conference call was the restaurant operator’s statement that it saw little resistance from consumers to price hikes.
CFO John Hartung: “We are currently reviewing the next year of restaurants for a possible price increase using the same risk profile analyses. While we would like to execute the price increase on the next tier of market sometime in the fall, the exact timing will depend on the timing of a possible queso rollout and the consumer sentiment and visit habits following the events of last week.”
Chipotle earnings call transcript