iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Chipotle Warns on 2017 Sales Guidance at Barclays Conference; Shares Plunge

I was once a loyal patron at Chipotle. I’m a foodie and tend to eat out a lot. Being dragged around like a rag doll all the time in search of shopping experiences, I find myself in all sorts of shopping mall, usually adjacent to places like Chipotle. I can’t speak for any of you, but the reason why I haven’t eaten there since the tainted food scandal is because the company never revealed the source of the contaminants. It just popped up in random places and the company had no explanation, other than to say they were working diligently on resolving the issue.

It’s a shame, because the food was good. But, I’ll never eat there again. The brand has been tainted forever and it isn’t coming back. Same store sales have plunged in the order of 19% for the past year and management just warned at the Barclays Conference that they were nervous about hitting 2017 sales guidance.

A Bloomberg report, Shelly Banjo, was there and was live tweeting Chipotle’s comments.


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The stock is down about 5% now. The Bill Ackman curse lives on.

 

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7 comments

  1. matt_bear

    I’m mostly in agreement. Back in 2013-2015 my family ate there at least once a week. This year it’s once a month. The quality of the food has definitely gone down. I was just there sunday night at 7pm and they were out/waiting on 3 different food items to be ready. The line was backed up and they gave everyone a free drink and a buy one get one free coupon. What was a “5 minute wait” turned out to be over 20.

    It just doesn’t taste as good and fresh anymore. I’m about done with them.

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    • Dr. Fly

      Interesting. The freshness of the food was the result of busy lines. If lines slow, food is less fresh.

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  2. fryguy15

    I never understood the term “foodie”. Isn’t everyone a foodie?

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    • Dr. Fly

      A real foodie understands food. He just doesn’t eat it.

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      • fryguy15

        Just another millennial-created term imo. Most people that consider themselves foodies definitely don’t “understand” food, and certainly can’t cook it.

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  3. fryguy15

    On another note, I had a burrito bowl yesterday for lunch and it was still delicious.

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  4. wolfdaddy

    I’m convinced they changed the source of chicken. Nothing but grizzly shit now. Disgusting.

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