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Chipotle Mexican Grill Inc

SOC labor coalition accuses Starbucks of ‘flawed’ union strategy

A coalition of unions is laying out its case against Starbucks ahead of a proxy fight at its annual meeting in March, arguing the coffee giant has implemented a "flawed human capital management strategy" in response to a yearslong union movement.The Strategic Organizing Center claims the situation has put the company at reputational risk, diminishing shareholder returns and isolating customers, based on polling conducted for a shareholder presentation. The coalition is pushing to replace three current Starbucks board…

Companies make 2024 the year of cost cuts

Mathisworks | Digitalvision Vectors | Getty ImagesCorporate America has a message for Wall Street: It's serious about cutting costs this year.From toy and cosmetics makers to office software sellers, executives across sectors have announced layoffs and other plans to slash expenses — even at some companies that are turning a profit. Barbie maker Mattel, PayPal, Cisco, Nike, Estée Lauder and Levi Strauss are just a few of the firms that have cut jobs in recent weeks.Department store retailer Macy's said it will close five…

Chipotle Mexican Grill (CMG) Q4 2023 earnings

People visit a Chipotle restaurant in Miami on Feb. 9, 2022.Joe Raedle | Getty ImagesChipotle Mexican Grill on Tuesday posted quarterly earnings and revenue that beat analysts' expectations as more customers visited its restaurants.Shares of the company rose more than 2% in extended trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:Earnings per share: $10.36 adjusted vs. $9.75 expectedRevenue: $2.52 billion vs. $2.49…

Chipotle aims to hire 19,000 workers ahead of spring

A "Now Hiring" sign is displayed in front of a Chipotle restaurant on October 07, 2022 in Washington, DC.Anna Moneymaker | Getty ImagesChipotle Mexican Grill hopes to recruit 19,000 new employees to make its burritos and bowls this spring, the company said Wednesday.The company's hiring target suggests it's expecting an even busier spring than usual, despite another round of menu price hikes in October. The chain's recruitment goal is about 27% higher than a year ago, when it sought 15,000 new workers for its so-called…

F1 spending cap made racing teams more investable

Singapore's F1 Grand Prix in 2022. 2022.Bryn Lennon - Formula 1 | Formula 1 | Getty ImagesTake an elite field of world-class racing experts. Ask them to spend fewer dollars toward beating their bitter rivals. The result, it turns out, is a slate of newly investable assets.That's how the heads of Formula 1 racing see it, crediting a league-wide budget cap with making the team businesses more sustainable and boosting valuations."When we got involved, literally, the bottom teams were being traded for zero. Today I don't…

Starbucks workers file labor complaints as union goes on strike

Members of a recently formed union of Starbucks workers hold a rally to celebrate the first anniversary of their founding, December 9, 2022 in New York City.Andrew Lichtenstein | Corbis News | Getty ImagesStarbucks workers in New York City have filed 14 more complaints alleging that the coffee giant violated the city's labor laws.New York's Fair Workweek law says that employers have to give their workers regular schedules from week to week, 14 days notice of their scheduled hours and extra pay for shift changes, among…

McDonald’s creating CosMc’s spinoff restaurant brand

1980s McDonald's Commercial screenshot featuring CosMc.Source: McDonald's | YouTubeMcDonald's is creating a spinoff restaurant chain called CosMc's, executives said Thursday.The fast-food giant shared few details about the project during its second-quarter earnings call."CosMc's is a small format concept with all the DNA of McDonald's, but with its own unique personality," McDonald's CEO Chris Kempczinski said.The company will test CosMc's in a handful of sites in "a limited geography" in early 2024. McDonald's said it…

Chipotle Middle East locations coming next year via Alshaya Group deal

Chipotle announced Tuesday it has signed an agreement with Kuwait-based Alshaya Group, its first-ever franchise partner, to open locations in the Middle East next year.Chipotle currently has just over 50 locations in Canada and Europe. All are company owned and operated, as are its roughly 3,200 U.S. locations. The Alshaya agreement marks the first time Chipotle has enlisted a local franchise retail operator as it moves into a new market.related investing newsChipotle CEO Brian Niccol told CNBC in an interview that the…

Chipotle tests robot to prepare avocados for guacamole

Avocados sliced, cored and peeled by the Autocado robot created by Chipotle and Vebu Labs.Source: Chipotle Mexican GrillChipotle Mexican Grill has developed a robot that can cut, core and peel avocados used in its guacamole as the restaurant industry faces a sustained labor shortage.Today, it takes roughly 50 minutes to make a batch of Chipotle's guacamole. But the Autocado unveiled Wednesday could cut the prep time in half.The fast-casual chain developed the collaborative robot, or cobot, in partnership with Vebu Labs, a…

Inside Sweetgreen’s first automated location, plans to take tech nationwide

In early May, Sweetgreen opened its first automated location, in the Chicago suburb of Naperville, Illinois. After only a few weeks operating the restaurant, the salad chain is preparing to go all in on the technology to cut labor costs and improve the customer experience.But in the early days of the automation trial, only time will tell if customers, employees and investors prefer the new way of making salads and warm bowls.The restaurant industry has historically been slow to adapt to new technology. Eateries'…