Chipotle Believes It Will Completely Replace Fast Food Chains
"The predominant goal [for traditional fast food chains] is the cheapening of the raw ingredients, the automation of the work such that anyone could do it... so that they turn over their employees without any care for them, where it's a game of value meals and cheapening the food experience," Chipotle co-CEO Monty Moran said in an interview with Belus Capital Advisors' Brian Sozzi.
"That is traditional fast food, and we think that's going away," he said. "We, and others like us, will replace that."
Chipotle plans to undercut McDonald's and other traditional chains by opening more outlets and expanding into different types of cuisine, as they are doing with their nascent Asian and pizza chains, ShopHouse and Pizzeria Locale, Moran said.
"Our mission is to change how people eat fast food," Moran told Sozzi.
Chipotle is still on a tiny fraction of the size of McDonald's. The burrito chain has just 1,700 locations that generated $3.21 billion in revenue last year. McDonald's, by comparison, has 35,000 outlets worldwide and revenue of $28.1 billion.
But Chipotle's same-store sales growth has been consistently strong. In the most recent quarter, Chipotle's same-store sales grew 17.3% and McDonald's were flat.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499
- 8 Fun things to do in Kasol
- SC rejects pleas seeking cross-verification of votes cast using EVMs with VVPAT
- Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh
- Deloitte projects India's FY25 GDP growth at 6.6%
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market