Chipotle Raises Prices To Cover Cost of Hike in Wages
- 3 years ago
Chipotle Raises Prices , To Cover Cost of Hike in Wages.
The popular food chain announced
it has raised prices by four percent.
Chipotle has committed to a starting employee wage
of $15 an hour by the end of June.
Several other major service industry
chains have also raised wages,
including McDonald's and Starbucks.
Several other major service industry
chains have also raised wages,
including McDonald's and Starbucks.
It feels like the right thing, at the right time, and it feels like the industry is now going to have to either do something similar or play some kind of catch-up, Jack Hartung, Chipotle CFO, via CNBC.
Also contributing to Chipotle's price hike are the
numerous disruptions to food supply chains.
Ingredient costs have risen as suppliers struggle
to keep up with the rising demands
of loosened COVID-19 restrictions.
Chipotle executives say this price hike
is the only one the company will
implement for the foreseeable future
The popular food chain announced
it has raised prices by four percent.
Chipotle has committed to a starting employee wage
of $15 an hour by the end of June.
Several other major service industry
chains have also raised wages,
including McDonald's and Starbucks.
Several other major service industry
chains have also raised wages,
including McDonald's and Starbucks.
It feels like the right thing, at the right time, and it feels like the industry is now going to have to either do something similar or play some kind of catch-up, Jack Hartung, Chipotle CFO, via CNBC.
Also contributing to Chipotle's price hike are the
numerous disruptions to food supply chains.
Ingredient costs have risen as suppliers struggle
to keep up with the rising demands
of loosened COVID-19 restrictions.
Chipotle executives say this price hike
is the only one the company will
implement for the foreseeable future