Chipotle's first-quarter results are anticipated to show significant growth due to resilient foot traffic and higher menu prices, which were partly influenced by California's new minimum wage law. The company reported a 14% increase in sales, totaling $2.7 billion, driven by price hikes across their menu items. Chipotle's CFO emphasized that despite a slowing U.S. economy, consumers are expected to continue prioritizing expenditures on their products. Additionally, some fast food outlets in California, including Chipotle, have responded to the state's new minimum wage law by implementing automation and raising prices.
Cramer praises companies like Chipotle that can grow despite a slowing economy and inflation https://t.co/no3robBgNA
Chipotle CFO said diners will keep burritos in their budget as US GDP growth slows https://t.co/ZaUIWbGuXe by @BrookeDiPalma
🇺🇸 Chipotle says California's minimum wage pushed menu prices up nearly 7 percent https://t.co/wopIhPdwlB
CA Fast Food Outlets Defy State's New, Economy-Crushing Minimum Wage Law With Automation, Raising Prices https://t.co/PMAi3Eiu9y
Chipotle says California's minimum wage pushed menu prices up nearly 7 percent https://t.co/YMZz7UL4TJ
Chipotle sales jump 14% on the back of price hikes - as customers bought $2.7 billion of burritos, tacos and drinks in just three months https://t.co/28sZEACxjX https://t.co/AFoAMyebRj
Chipotle earnings preview: Resilient foot traffic, higher menu prices expected to boost Q1 results https://t.co/tzSR6BVrIf by @BrookeDiPalma