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So that means Chipotle will lead by example and start paying all their employees a livable wage, right? ... Right??
It’s funny how companies just don’t get it.
Fast food has been historically cheap. Chipotle worked because it was fast, it was cheap, and you didn’t feel like you were as much of a fat ass compared to grabbing a giant bacon burger and a bucket of fries.
Now you go to chipotle and pay $20 for a burrito and a soda. Still fast, still decent enough (at least the one near me), but $20 is highway robbery.
OR, I can go across the street to a sit down restaurant, have a first generation Thai guy (who started his American dream restaurant) whip up the best damn drunken noodles I’ve ever had for $12. AND he does this FASTER than chipotle (seriously how does he do it? Must be a magic wok).
Guess where we grab lunch these days.
We pre-cook as much as we can in Asian restaurants. The wok isn't magic, the chicken/beef/pork is already 75% cooked.
My issue with chipotle has always been that the food is lukewarm.
I’m not paying 20 dollars for a lukewarm, lightly seasoned burrito.
And whoever rolls those burritos hears "roll" and thinks "roll of bread"and doesn't understand that a burrito is supposed to be long.
It's the same problem as burger makers making their burgers TALL. Like bro, that's the wrong shape for the format of fitting in my mouth.
Say no to chode burritos.
Who'd see this coming, when the population has no money to spend and the top 0.1% is taking all the money, so there's nothing to spend? Not the billionaires, that's for sure. I really cannot wait for the fall when they will realise how much they fucked up. I'm definitely not going to help them, no matter how much money they offer. They did this to themselves, and I'll be happy when the population starts eating ^the rich^.
It's actually been this way for a while. The top 10% of American earners do half of all consumer spending. A massive amount of the economy has shifted to reflect this. Businesses are often targeting business to business sales rather than business to customer. Pay to win video games use free players as content for whales to play through. And if you're selling physical goods, you're probably either doing it as cheaply as possible, or absolutely gouging the assholes you're selling to (think ikea vs Kohler's premium brand, for which a lamp costs 5 figures and the website doesn't gave prices listed).
I always thought whales were actually middle class or even poor people that have essentially a gambling addiction.
Middle age people with jobs also can't afford Chipotle in the PedoEconomy.
Remember the $1 grilled cheese truck guy?
https://www.distractify.com/p/one-dollar-grilled-cheese-truck
It didn't ever actually happen (that I know of) but those trucks should exist everywhere and park right next to overpriced fast food restaurants to exert some economic pressure on them to lower their prices. Shit is ridiculous.
Yeah, what we got instead was a place selling lobster rolls for $23 a pop.
I am with you, there should be (a place selling dollar cheesies), but the fact that there isn't is telling about how unfeasible that is.
I feel like I'm trying to rationalize insanity, and I do understand the reason, but why does the burrito company need stock?
Money
The stock holders are the owners. The owners can in theory direct the board of people representing their interests to do whatever, but generally stock owners want the board to do things they believe will make the value of the stock go up. Like any average owner of a private company, just we all get to watch since it's a public company.
On top of what others said, they issued it for cash so they can expand their business and pass the risk onto investors.
...Hence the risk now.
This must be the end of the monopoly game. I guess we either flip the board or die
shit. im over a decade older than that group and my wife and I have had to cut out all outside food for over a year.
Also $11 for a burrito? Yeah, miss me with that bullshit. I'm thankful for chipotle keeping me full while I was in college but shit is literally double the price it was then.
I think folks in our age group have cut more aggressively. More responsibilities
Boatwright said Chipotle is "doubling down on restaurant execution," increasing marketing spend, plans to create more digital experiences, and introduce more innovation.
The problem is prices for the quality you get. Instead of spending money on improving those things, they're dumping it on more commercials and "digital experiences".
Yes, that will totally make people or want to buy overpriced mediocre fake Mexican food.
Maybe robots and AI can buy your food. 😐
maybe it has something to do with ripping people off on takeout orders
wait, people were able to afford it before? never went becuase it was overpriced.
Pretty sure a lot of young people with jobs can't afford it either.
Chipotle has been shit ever since their data breach years ago. Fuck 'em.
I live twenty minutes from a Qdoba and they have yet to fuck up my order or skimp on toppings.
Nah, the food just really sucks. Used to be good, isn’t anymore. It’s not that they can’t afford it, it’s that if you’re going out for cheap food once in a while, Chipotle is somehow worse than what you can make at home, for more money.
I paid 16$ for a bowl the other day of the new steak. Ya. That was a hard pill to swallow. 16$. I could have gone to Applebee’s for that price, or Chilli’s!
I love Chipotle. Maybe it's just the locations near me, but the quality is good and prices are not as high as some others in the thread say; certainly not $20. Maybe $11 or $12, and for a really big meal.
Unfortunately I stopped eating there when I stopped shopping at Target, when they got rid of their DEI policies in clear capitulation to MAGA. Plenty of places with comparable quality & price that at least try not to do hiring discrimination
Usually these headlines are bs, but the stock price dropping by 50%, or several years' growth? Yikes.
I mean, still not really cratering but it's a big drop. Nothing they can't recover from.
Well this is interesting to me given that my employer has internally been talking about how Chipotle, the fast casual counter serve restaurant, has been growing faster than our full service pasta restaurant. Which obviously means they're stealing our market share in our separate segment and we need to move to compete with CMG more.
Methinks it is time to leave this industry.
Edit: haha. hahahahahahaha
A particularly challenged cohort is the 25- to 35-year-old age group," Boatwright said. "This group is facing several headwinds, including unemployment, increased due loan repayment and slower real wage growth.
ahahahahahahaha they are so out of touch if this is news to them
Fuck all this capitalist bullshit. Bring about a basic income for all. No one should have to be forced into violence just to feed themselves or their family. A whole shitload of social problems would disappear if basic income were enacted.
The food is meh. The prices are high. Young people are broke. What do you expect?
Title should read:
#Chipotle goes under after last willing customer cratered pants after eating Chipotle
Chipotle is on it's way out. When they first opened, at least by my work, the food was fresh and decent and could be had for a little more than fast food but not by a lot so it was easy to go there. I wouldn't say it's Mexican or TexMex but it wasn't bad. Changed jobs and hadn't been there in a while but I was on a road trip and thought what they heck, there aren't too many options and this seemed like it would be good. The food was not fresh the meat was over cooked, you didn't get a lot of food and it was kind of over priced... I haven't been back since.
If I want cheap food, Chipotle is out. If I want good food Chipotle is out. Maybe if I hate myself and want to spend a lot of money for shitty food?
Shit, I discovered Izzos Illegal Burrito and it’s much better at a fraction of the cost!
The closest Chipotle to me is 45 minutes away and has a < 3 star rating - i think I'll go literally anywhere else and be content.
Idk why it got so popular. Plenty of better Mexican options and you don’t have to pay for chips or get e.coli.