Chipotle plans price hike after three years
April 21 , 2014
Looks like Chipotle is confident that customers will pay more for its burritos and bowls. The chain recently announced that it plans on raising prices for the first time in three years as it's becoming more popular.
Executives mentioned that they're considering an increase of nearly 5 percent or less. They said customers like the chain not only due to its low prices.
"Most of the value comes from the experience," chief financial officer Jack Hartung said. He noted that Chipotle had earned its customers' permission to increase prices because of this experience and there still was a possibility for it to further raise prices without driving customers away.
"We've still got room."