Chipotle's CEO said the company has made progress in addressing one of its biggest challenges—high food prices.
Chipotle (CMG) CEO Scott Boatwright said the company has made progress in addressing customers’ primary complaint about high food prices. He noted that the second-quarter affordability score was the best it has been in recent years. Chipotle has enhanced perceived value by expanding its high-protein menu, introducing lower-priced cup meals, and offering digital promotions. The company’s second-quarter revenue rose 9.3% to $3.35 billion, exceeding expectations, while comparable restaurant sales increased by 2.2%. Management raised its full-year comparable sales growth forecast, and the stock rose 8% in early trading on Thursday.
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