These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
Gluskin Sheff's David Rosenberg is painting a painful picture for stocks as earnings season goes into full gear.Futures Nowread more
Rossello is facing public furor over an obscenity-laced online chat that showed the governor and his close advisers insulting women and mocking constituents, including victims...Politicsread more
There's a silver lining for Chipotle lovers amid the chain's woes: their next Chipotle burritos could be free.
As Chipotle battles ongoing fallout from a string of high-profile foodborne illness outbreaks, the chain is increasing the amount of food it gives away to customers.
The restaurant chain has doubled the amount of free food stores can give away to customers, said co-CEO Monty Moran during an in-person interview Wednesday at the ICR conference, a closely watched investment conference that attracts retailers and restaurateurs.
While the practice has existed at the company since the "old days," it had diminished, said CFO Jack Hartung during an interview. "We've always had it, but it just kind of drifted to such a low-grade level that it was kind of non-existent."
Recently though, the company sent an email out detailing just how much restaurants could increase their giveaways and reward customers, Hartung said. Moran declined to share the specific allowance.
Starting next February, the chain also plans to ramp up marketing in hopes of winning customers back, said Chief Marketing and Development Officer Mark Crumpacker in a presentation.
A former Wall Street darling, Chipotle has seen both its stock price drop precipitously and its sales nosedive at established restaurants. In December, comps plummeted 30 percent while its stock is down more than 40 percent from all-time highs hit last year.
But on Wednesday, Chipotle stock jumped following updated comments to investors and analysts from the company at the ICR conference. Analysts attributed the uptick in part to positive comments from the company about a potential end to the CDC's E. coli investigation and upcoming promotions to get customers back.
"I have confidence that we're going to recover from this," said co-CEO Steve Ells, during a conference presentation.
Hartung pegged the ongoing margin hit from additional costs of food safety improvements to be about 100 to 200 basis points.
While Chipotle will eventually recoup some of its costs through a price increase, Hartung said this would not happen until probably 2017.