Shares of Chipotle had their best day in more than four years. Despite the surge, the stock is still way off its all-time high of nearly $760. Jeff Bernstein, Senior Restaurant Analyst at Barclays, was with us to discuss whether the hiring of its new CEO will be enough to fuel a turnaround for Chipotle.
Chipotle tapped Taco Bell's CEO, Brian Niccols. Investors were on board with the move, sending shares soaring. Bernstein said it will take some time for consumers to jump on board. Chipotle is not a major media advertiser, so getting the new message across won't be immediate, the analyst adds.
During his time at Taco Bell, Mr. Niccol played a key role in bringing life back to the brand, bringing innovative food items to the menu. His marketing background helped get consumers excited about items such as Quesarito, Naked Chicken Chalupa and Nacho Fries. Bernstein said he expects to see some new product news at Chipotle, but acknowledges the assembly-line structure will keep them somewhat limited.
It's a tough time for the job market. Amid wider economic uncertainty, some analysts have said that businesses are at a “no-hire, no fire” standstill. At the same time, some sizeable layoffs have continued to pile up — raising worker anxieties across sectors. Some companies have pointed to rising operational costs due to U.S.'s new tariffs, while others have redirected money to artificial intelligence investments. Workers in the public sector have also been hit hard. Federal jobs were cut by the thousands earlier this year. And many workers are now going without pay as the U.S. government shutdown has now dragged on for more than a month.
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