date:Apr 18, 2014
an increase of 150 basis points. Much of the pressure is coming from steak prices, which are up 25 percent so far this year and at the highest level Chipotle has experienced. Avocados and cheese are also adding to the commodity cost increases.
Hartung said food costs will be nearly 36 percent of revenue during April and are likely to push past that over the next two quarters, excluding the effect of any price increase.
We believe we have a lot of pricing power, Hartung said in response to que