Chipotle says it could raise prices again this year after a 4% price hike in December as inflation looks set to persist
Chipotle is likely to increase prices again this year as inflation persists, CEO Brian Niccol told the"I just don't see the inflation, unfortunately, going away anytime soon," said Niccol."It sure doesn't look transitory to me," he added to the WSJ.
Niccol's comments come as the fast-food chain reported better-than-expected sales in the fourth quarter of 2021, with revenue soaring 22% on-year to $2 billion, the company said in anEven so, Chipotle's fourth-quarter margin was hit by inflation, primarily in the price of beef and freight, said the company's chief financial officer, John Hartung, according to aWholesale beef prices rose as much as 46% over the course of 2021, data from...