Chipotle Sales Have Risen Dramatically Despite Price Hike

Even though Chipotle raised its prices by around 6.5 percent on average earlier this Summer, sales have been up 17.3 percent in the second quarter. According to Businessweek, this is due to an increase in the number of transactions that occur at each Chipotle. During peak lunch and dinner hours Chipotle locations saw, on average, eight additional transactions respectively.

Co-Chief Executive Officer Monty Moran attributes this increased number of transactions to improved speed: "These are customers that might easily walk away from our long lines to dine elsewhere, except that they know that our excellent teams are geared up and ready to serve them a delicious meal quickly." It looks like these sales numbers will only keep increasing: Chipotle has plans to open 180-195 new restaurants in 2014 alone. Plus they recently got a pretty big endorsement from the President.

· Chipotle Raises Prices [Businessweek]
· All Chipotle Coverage on Eater [-E-]