Chipotle Fiends nation wide may have to change the source of their addiction come to 2014, as the food franchise is thinking of making a couple of changes… here’s a hint.. $$$$$ .. we may be saying bye bye to those affordable meals, hit the jump for more detail!
As the Chipotle Grill franchise gains in popularity, apparently so will its prices! The company let out a statement this Thursday unveiling that as a result of their food cost increasing, so will the prices, by 7.7 percent.
The franchise has been contemplating this move for a while now as they have been adding fresher, quality items to their menu including California avocados and salsa. Other hefty costs are a result of wanting to secure a good supplies of natural meats and other products that do not contain any GMOs, reported representatives.
The food chain has seen a great performance amongst the restaurants that have recently opened this year, as they were up 6.2 for the latest quarter rather than the average 4.7.
“Third-quarter net income at Chipotle increased 15 percent from the year earlier to $83.4 million, or $2.66 per share. That fell short of analysts’ average estimate of $2.78 per share, according to Thomson Reuters I/B/E/S, as higher food, labor and rent costs squeezed margins. Chipotle narrowed its full-year forecast for same-restaurant sales to mid-single-digit percentage growth,” reports HuffPost
