What went wrong at Red Lobster [CNN]
Chipotle Mexican Grill, Inc. (CMG)
Last chipotle mexican grill, inc. earnings: 4/21 04:10 pm
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Source: CNN
Red Lobster misjudged just how many seafood lovers would pour into restaurants around the United States and fill up their stomachs with pounds of sweet, juicy crab legs drenched in lemon and dipped in melted butter. While it was a delicious deal for customers, it was terrible for the company: Red Lobster lost $3.3 million in seven weeks. “It wasn't the second helping on all-you-can-eat, but the third” that hurt profits, a Red Lobster executive said at the time to analysts. Fast forward 20 years, and Red Lobster made a nearly identical mistake, but with shrimp — and under foreign ownership that caused a cascade of problems for the company. Last summer, Red Lobster turned $20 endless shrimp into a permanent item on the menu, instead of a traditional limited-time offer. The deal was once again too popular , and Red Lobster was unprepared for its customers' insatiable lust for discounted shellfish. Red Lobster's major shareholder Thai Union, a Bangkok-based canned seafood compa
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CMG
Earnings
- 4/24/24 - Beat
CMG
Sec Filings
- 5/3/24 - Form DEFA14A
- 5/1/24 - Form PX14A6G
- 4/29/24 - Form 4
- CMG's page on the SEC website