Chipotle Stock: Setting the Standard for Restaurants During the Coronavirus Downturn
When Brian Niccol joined Chipotle Mexican Grill (NYSE: CMG) as CEO in early 2018, he quickly redirected more of the fast-casual restaurant's efforts toward digital. Under Niccol's helm, Chipotle added second makelines for digital orders, mobile-order pick-up shelves, a digital loyalty program, and drive-thrus to solicit more consumers to order ahead. But no one could have foreseen just how important these investments would prove in early 2020 when COVID-19 totally disrupted retail and temporarily eliminated dining inside restaurants.
Today, Chipotle's recent digital investments are helping the company set the standard for managing headwinds during the coronavirus pandemic. Sure, Chipotle's sales are still taking a hit during this uncertain time, but strong performance in digital is helping mitigate the damage.
Image source: Chipotle Mexican Grill.
Source Fool.com