1. Food

Chipotle Stock Hits New Record High Since Its Pre-E. Coli Scandal Days

Chipotle’s lengthy, E. coli-tainted nationwide nightmare appears to lastly be over. For the primary time since August 2015, when the burrito chain’s rash of foodborne diseases started unfolding with alarming velocity and severity, shares of Chipotle hit a brand new all-time excessive on Monday, peaking at near $760.

graph showing chipotle’s stock price over the years, rising back up and peaking on july 15, 2019
NYSE: Chipotle (CMG) on July 15, 2019.
Screenshot: Google

The inventory has been climbing because the firm poached Brian Niccol, Taco Bell’s CEO, to take over Chipotle final February. Below Niccol, Chipotle has experimented with drive-thru lanes, launched new menu objects, and launched a loyalty rewards program. Per CNN: “revenue soared nearly 14% in the first quarter and sales at restaurants open at least a year were up nearly 10%.” After sturdy inventory progress final yr, Chipotle is up 75% in 2019, making it one of many best-performing shares on the S&P 500 Index.

That’s to not say Chipotle is totally freed from all food-safety scares, nevertheless. Final summer time, greater than 400 folks reported falling sick after consuming at a Chipotle in Ohio — the quantity later grew to greater than 700 — leading to a number of lawsuits filed in opposition to the chain. Nevertheless it seems customers’ reminiscences are brief, and the lure of burrito bowls is powerful. If at this time’s inventory efficiency is any indication, Chipotle has efficiently made its comeback.

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