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Chipotle Increases the Price

Chipotle, the mexican fast food chain, is planning to increase the price and predicting the rise in the high single digit.

Chipotle stock slid today over 6% today.
Due to higher cost of avocados beef and cheese had made net income come out below the expectation so this puts pressure to Chipotle to increase the price to increase its profit margin.
Chipotle Mexican Grill Inc. is confident that customers are willing to pay more to eat the delicious mexican food.
The mexican food chain plans to open new restuarants over 180 locations this year and also working really hard on marketing to build the higher-quality reputation of its food to compete with other fast food chain.