Sonoma Creamery Cheese Crisp Bars - Waking up the bar category - From the makers of parmesan crisps and Mr. Cheese Os
Beemster makes it better
Chipotle Looks to a Restaurant Refresh with a $50 Million Investment

Chipotle Looks to a Restaurant Refresh with a $50 Million Investment


DENVER, CO
Friday, February 9th, 2018

Is 2018 Chipotle’s year to see a turnaround? The fast casual restaurant chain has implemented a plan with multiple investments, it seems, to make it so. In addition to its usual $10,000 per year per location, about $24 million total, for annual upkeep, Chipotle is investing about $20,000 for every restaurant for a refresh and upgrade, totalling a $50 million investment.

Chipotle Restaurant, New York

The announcement was made by Chief Financial Officer John Hartung, who held an earnings call earlier last week, according to a MarketWatch report.

Chipotle will reinvest more than one-third of its anticipated savings from tax law changes into its employees, according to a press release, with the remaining funds dedicated to improvement of restaurant facilities and operations.

Steve Ells, Founder, Chairman, & CEO, Chipotle"We have always been proud of our ability to attract and retain top talent who share our passion for cooking delicious food by hand and creating an extraordinary guest experience," said Steve Ells, Founder, Chairman, and CEO, in a statement. "We're giving back to these committed, motivated, and hardworking team members who have made Chipotle what it is today."

These include:

  • Accelerated Training Programs: More training programs for employees, including a formalized classroom program with a dedicated faculty that will focus on a range of topics related to operational excellence and leadership.
  • Cash & Stock Bonuses: Qualified hourly and salaried restaurant employees will receive a special one-time cash bonus of up to $1,000. Qualified staff employees will receive a one-time stock grant.
  • Maternity/Paternity Coverage: Additional paid parental leave coverage for everyone from hourly managers to salaried employees.
  • Life Insurance and Short-Term Disability: The company has added life insurance and short-term disability insurance coverage for hourly restaurant managers.

"We have always been committed to making Chipotle a great place to work with excellent compensation and benefits," said Ells. "With these expanded offerings, we're thanking our employees for their hard work and dedication to our company."

Chipotle Production Line

Chipotle has already allotted about $300 million in capital expenses for 2018, up from 2017’s $217 million. While a number of analysts seemed skeptical in MarketWatch’s report of this being the spark the fast casual chain would need to turn itself around, the name is still widespread and upping its involvement in its staff, image, and beyond.

Still forecasting full-year same-store sales growth in the low-single digits, if this is the catalyst to Chipotle’s bouncing back Deli Market News will let you know.

Chipotle
Topics:


Sonoma Creamery Cheese Crisp Bars - Waking up the bar category - From the makers of parmesan crisps and Mr. Cheese OsBeemster makes it better

Have a new product, press release or story idea?

Let us know

In This Story


Chipotle Mexican Grill, Inc. is an American chain of fast food restaurants in the United States, United Kingdom, Canada, Germany, and France, specializing in tacos and burritos.

What a Chicken Wants: Windows, Wing Space, Outdoor Living, and More

Perdue Farms goes beyond the status quo and leads the way to enhance animal welfare standards.
View Press Release

Quick Access to Organic Commodity Prices Made Possible by Mercaris Partnership with DTN

DTN’s ProphetX solution will offer organic commodities data with The Mercaris Report.
View Press Release

Vienna® Beef Celebration Marks 125 Years as Chicago’s Favorite Hot Dog

Iconic hot dog brand welcomes governor and community for a Chicago-Style party.
View Press Release

Moo've Over, Yogurt: Kansas State University Students Win First Place in Dairy Council's New Product Competition

A new creamy protein-rich dairy drink has Kansas State University success written all over it.
View Press Release

Inc. Magazine Unveils Its 37th Annual List of America’s Fastest-Growing Private Companies—the Inc. 5000

For the 8th Time, Hissho Appears on the Inc. 5000, Ranking No. 3893. With Three-Year Revenue Growth of 91.7 Percent
View Press Release

WCMA Adds Staff as Member Services Expand

The association has welcomed Sara Schmidt as its new Office and Member Service Coordinator, working to support WCMA’s expanded array of benefits to member organizations.
View Press Release

Now It's Official! Flow is a Business Doing Good

BeeInventive, the company behind the multiple award-winning “honey on tap” FlowHive, is now a Certified B CorporationⓇ.
View Press Release

Hissho Among 2018 Middle Market Leaders

Hissho has just been named #8 among the 2018 Middle Market Leaders honorees by Charlotte Business Journal.
View Press Release

Halton Group Acquires U.S. Indoor Air Equipment Manufacturer

The acquisition makes the company a part of Halton's Foodservice business that specializes in professional kitchen environments.
View Press Release