Chipotle’s chief executive said he is focused on winning the battle for labour” in a tight job market where workers have “a lot of options.”
Brian Niccol, Chipotle’s chief executive, told the Financial Times that he is thinking about how to make jobs at the company more attractive by providing unique benefits like English lessons, as well as opportunities for promotions.
“The fact that you can join our company as a crew member and in two to three years be a general manager is pretty compelling to a lot of people, he said”
Chipotle lifted prices in California after a new law that took effect at the start of the month raised the minimum wage for fast food workers from $16 an hour to $20.
Niccol said he hasn’t “seen any real impact” on sales so far. “Fortunately for us, we were still able to keep the chicken burrito around $10.
The fast-casual chain reported net income of $359mn on revenues of $2.7bn, matching expectations for sales and exceeding analysts’ profit forecasts by about 12 per cent.
Shares of the company rose 3 per cent in extended trading.