Operations

Chipotle ups steak, barbacoa prices in margin quest

Photo by istock.com

April 12, 2021

In a quest to get closer to its margin goals Chipotle Mexican Grill Inc. has increased prices on its steak and barbacoa items by about 4%, according to data released by Truist Securities.

The firm estimates beef is included in 25% to 30% of the chain's average check, according to a Market Watch report.

The price increase demonstrates the brand's commitment to "achieving its long-term margin framework," a Truist analyst wrote in a note.

The company's stock is up 111.2% over the past year, according to Market Watch.