Chipotle Isn’t as Hard Off as Other Chains in the Outbreak Era
- Company helped by lots of cash, no debt and rebounding sales
- CFO says it’s investing in extra labor, order-ahead technology
Freshly folded tortilla chip bags sit on a shelf counter at the new Chipotle.
Photographer: Laura McDermott/BloombergThis article is for subscribers only.
Chipotle Mexican Grill Inc. shares gained as much as 10% Wednesday after the company said its financial position is solid enough to sustain operations for “well over a year.”
“We’re in a good position to make the right investments for the long term,” Chief Financial Officer Jack Hartung said in an interview. “We’re still in the beginning stages of figuring out what do we do, what do we need, what signage do we need.”