Chipotle's Chief Strategy Officer discusses 7% price hike in California due to minimum wage increase and plans AI implementation.

Chipotle's Chief Strategy Officer Jack Hartung discussed the company's recent 7% price hike in California, driven by new minimum wage laws raising fast-food workers' pay from $16 to $20 per hour. He noted a broader industry trend of "macro resistance" to inflation affecting restaurant transactions, rather than just Chipotle. Hartung also revealed plans to implement artificial intelligence, including the "Autocado" robot for avocado preparation and automation for bowl and salad creation.

October 02, 2024
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