Chipotle Mexican Grill CEO Brian Niccol mentioned its clients will simply should preserve ready if they need a breakfast burrito, whilst Wendy's an
Chipotle Mexican Grill CEO Brian Niccol mentioned its clients will simply should preserve ready if they need a breakfast burrito, whilst Wendy’s and different opponents launch morning menus.
“Perhaps down the highway, there’s a possibility for us to increase our hours earlier into the day, however I believe there are only a lot of issues we must tweak on the working mannequin to be actually efficient,” Niccol mentioned on CNBC’s “Squawk on the Street.”
Niccol has been saying since 2018 that Chipotle has no fast plans to begin serving the early morning meal. In Could, for instance, he mentioned at a convention that he loves the concept, however it isn’t a direct focus.
“Look, the meals is the simple half right here: eggs, chorizo in a burrito, freshly ready — what’s to not love about that?” Niccol mentioned on Tuesday.
One entrant to the breakfast wars in 2020 can be Wendy’s, which is investing $20 million to arrange its U.S. eating places for a nationwide launch of the morning menu subsequent 12 months.
Whereas Chipotle stays out of breakfast, the burrito chain is as an alternative specializing in digital gross sales development and different new menu gadgets, in accordance with Niccol.
Shares of Chipotle, which has a market worth of $23.four billion, are up 94% to date in 2019, making it one of many 12 months’s high performers on the S&P 500.