- Chipotle CEO Brian Niccol sat down with CNBC’s Jim Cramer to talk about the Mexican quickly meals chain’s earnings and ‘Autocado’ robotic prototype.
- Chipotle on Wednesday described $2.51 billion in profits beating $2.53 billion consensus estimates.
Chipotle CEO Brian Niccol sat down with CNBC’s Jim Cramer on Wednesday to examine the Mexican fast food items chain’s earnings and the “Autocado” robotic prototype.
Chipotle on Wednesday reported $2.51 billion in income beating $2.53 billion consensus estimates. The company’s inventory has climbed 50% calendar year to day, but it fell additional than 9% in extended buying and selling.
“The good news is, we’re driving traffic, and, clearly, that targeted traffic is ensuing in exact same retail outlet sales progress,” Niccol stated. “And, frankly, our offer chain workforce, our operators, have performed a good career of managing labor, controlling expenditures together the way.”
Excluding the pullback in the cost of avocados, Niccol reported Chipotle is still experience the consequences of inflated food stuff price ranges. Nevertheless, he added that the firm will “preserve an eye on it” and is ready to alter its costs appropriately.
Niccol also touted Chipotle’s “Autocado” robot prototype. He claimed he’d been listening to constantly from personnel about the problems of prepping avocados, which call for chopping, quartering and peeling. He stated the ‘Autocado’ not only helps make workers’ jobs easier, but it permits them to get better more rapidly if they come across they have not organized ample guacamole for the working day.
“We challenged our crew to arrive up with a robotic or an automatic solution, and we’ve received one particular that’s a prototype, it truly is the ‘Autocado,'” Niccol stated. “We are quite psyched about what it can do for us.”
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