Chipotle Just Admitted Its Biggest Mistake
Chipotle Mexican Grill, Inc. (NYSE: CMG) is starting to look like a case study in mismanagement.
Since a series of foodborne illness outbreaks in 2015 that were arguably the result of misplaced priorities, the stock has fallen nearly two thirds. The E. coli crisis was exacerbated by management's reluctance to apologize and its attempt to blame the customer backlash on the media and CDC reporting methods. The company's marketing efforts since then have ignored customers' underlying food safety fears, and management has even admitted that in-store operations are subpar.
Its recent earnings report was a stinker across the board. Same-store sales came in at just 1% following a 21.9% drop the year before, and EPS was down more than 85% from two years ago.
Source: Fool.com
Chipotle Mexican Grill Inc. Aktie
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