Current Events > Chipotle to substantially increase prices in California

(+) Yeah! (+)

https://www.msn.com/en-us/money/companies/chipotle-says-to-expect-substantial-price-increases-in-california-after-minimum-wage-hike/ar-BB1hZxkR

oh no, this must be the fault of liberals or some shit.

I cant afford both chipotle and new underwear...

Foppe posted...

I cant afford both chipotle and new underwear...

Not all of us have the golden sphincter of the gods!

That was such a great episode imo.

Price hikes in Cali? No way!

Dude prices are going up everywhere. But when prices go up on California, its expected

I hear price hikes may cause cancer in California.

How long until they price out the middle class and suffer losses like McDonald's?

They can and will blame anything, but it won't matter to consumers, if you become too expensive, people will simply go to another place.

Concern noted.

that sucks...good thing Cali has better Mexican food restaurants

Screw them. Chipotle isn't that great anyway.

A beef barbacoa burrito without guacamole, no chips, and no drink is already almost $12 here in Georgia. (I ate one 2 days ago). That's already more expensive than *every* Mexican or Tex-Mex restaurant I know of. Also, everywhere else gives you free chips and salsa, even the chains like Moe's.

And yet prices for people to afford it won't increase. I say good riddance.

Just a quick scan from yahoo finance for Chipotle's finances in 2023:

Revenue: US$9.87b (up 14% from FY 2022).
Net income: US$1.23b (up 37% from FY 2022).
Profit margin: 12% (up from 10% in FY 2022). The increase in margin was driven by higher revenue.
EPS: US$44.59 (up from US$32.28 in FY 2022).

They don't need to do this, they're only doing it to fuck people.

Theyre sponsoring Evo so theyre taxing Cali to pay for it.

Because having a minimum wage that allows you to live with only having one job is such a bad thing.

Funny how these greedy corporations will just quietly raise prices until they have an excuse they can blame, then loudly raise prices. Nothing but corporate greed here

Foppe posted...

I cant afford both chipotle and new underwear...

Wait so you still eat Chipotle even though you know it's going to make you shit blood?

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I'd say it's less than the people that seem to believe that if people don't get paid more it'll somehow keep prices from corporate greed from not increasing.

dummy420 posted...

Wait so you still eat Chipotle even though you know it's going to make you shit blood?

...Dude, have you had Chipotle? It's really good.

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It does not fall on the shoulders of that person. Corporations can only squeeze so much out of the shrinking middle class and avoid paying so many taxes or people to keep the economy stimulated for so long. Your entire post seems to miss this point.

As a Californian, I've never been to a Chipotle.

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Because the US is not Denmark and you're entirely missing what's going on in the US apparently. Taxing corporations like normal is not "eat the rich." You've already dropped the puck with that wild tangent. That's not socialism for what I said. Especially when you bring up ubi as a good thing rather than what was even suggested.

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No it doesn't. Chipotle is publicly traded so their sole responsibility is their shareholders. A smaller company can do other things that a publicly traded company cannot without suffering a stock sell off.

boxoto posted...

that sucks...good thing Cali has better Mexican food restaurants

Yeah good point. This is like Pizza Hut increasing prices in New York

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so when the free market does things like raise prices so rapidly the average person can't afford to live, what do you suggest we do since IYO forcefully raising wages destroys everything?

note that i do not agree that raising wages is the answer. IMO we need to heavily tax the ultra-rich and use that money to subsidize living for the lower classes.

There's going to be crop failures everywhere due to anthropogenic climate change. This is just the beginning - food outages and food prices are going to skyrocket.

Nobody in California who has access to all this wonderful Mexican food actual Mexican food should be eating shit like chipotle

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Except both of these things are happening anyway, even in the states with stagnant wages.

Oh no, it's not like I can't go to other places for my burritos at like half the cost.

Odd that only one fast food chain needs to do this...

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Lol nah. Chipotle has slowly been increasing their prices anyway, even when the minimum wage didn't go up. This is their 5th price increase since 2021. They're just using the minimum wage increase as a scapegoat now.

boxoto posted...

that sucks...good thing Cali has better Mexican food restaurants

This x1000

lol this stock is priced so high
https://gamefaqs.gamespot.com/a/forum/7/728e67f5.png

boxoto posted...

that sucks...good thing Cali has better Mexican food restaurants

Right? You cant swing a cat without hitting a Mexican restaurant thats superior to Chipotle. I cannot fathom why so many people go there.

$20/hour is kind of absurd. I kind of agree with Chipotle here.

Foppe posted...

...Dude, have you had Chipotle? It's really good.

No its not. Mom and pop authentic Mexican restaurants are good.

I hope their stock plummets for this

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And what's the relationship between the circles of people who don't realize their tax money is subsidizing low-income workers like those working at Chipotle and those who think record corporate profits will trickle down to the average worker any minute now?

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Every dollar in IRS funding sees a return of $4 in unpaid taxes. That's not a coincidence, and neither is the Republican Party's efforts to defund the IRS.

Gritty posted...

Nobody in California who has access to all this wonderful Mexican food actual Mexican food should be eating shit like chipotle

I have to agree.

Bass posted...

Screw them. Chipotle isn't that great anyway.

It isn't even authentic.

I ate there once, was not good at all and got food poisoning on that night. Luckily I barf, but never ate there again.

There are way better Mexican restaurants where I live anyway and authentic.

Minimum wage is $7.25 here and a burrito is still goddamn 12 dollars

This price hike has nothing to do with wages

PraetorXyn posted...

No its not. Mom and pop authentic Mexican restaurants are good.

https://gamefaqs.gamespot.com/a/forum/0/0db8602f.jpg

PraetorXyn posted...

No its not. Mom and pop authentic Mexican restaurants are good.

I'm sorry, but their food totally messed my stomach up. The morning after I ate it I went to the bathroom and my poop was all solid. Like no water at all!

"We can't make less than 200% profit! That's a loss!"

NoxObscuras posted...

They're just using the minimum wage increase as a scapegoat now.

And some people continue to ignore this or don't understand it

DarthAragorn posted...

Minimum wage is $7.25 here and a burrito is still goddamn 12 dollars

This price hike has nothing to do with wages

The people who say it don't care. They're okay with others dying in poverty and squalor like the CHM dude earlier in the topic. As long as they can afford things it doesn't matter if others can't.