Some California restaurants have raised menu prices by as much as 8% in the wake of minimum wage law [Yahoo! Finance]
Chipotle Mexican Grill, Inc. (CMG)
Last chipotle mexican grill, inc. earnings: 4/21 04:10 pm
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Source: Yahoo! Finance
The price hikes were reported by Kalinowski Equity Research (KER) , which compared menu prices at 25 individual restaurants for each chain along with specific menu items before and after the wage hike. According to the data , Wendy's increased its prices by roughly 8% while Chipotle raised its prices by 7.5%. Chipotle raised the price of its chicken burrito by 8.3% and its steak burrito by 7%. KER also found that Starbucks increased prices by about 7%. Taco Bell hiked its prices by 3%. Same with Burger King, which raised prices by 2% and increased the price of its Whopper Meal by an average of 1.4%. Several McDonald's franchisees said they would increase menu prices after the mandate went into effect, but KER said the restaurants haven't done so yet. Hailed as “extraordinarily beneficial” by Gov. Gavin Newsom, the minimum-wage mandate — called AB 1228 — is essentially a collective deal between state lawmakers, labor unions and franchisees following a months-long battle regardin
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CMG
Earnings
- 4/24/24 - Beat
CMG
Sec Filings
- 5/1/24 - Form PX14A6G
- 4/29/24 - Form 4
- 4/29/24 - Form 4
- CMG's page on the SEC website