Surging avocado, beef and cheese prices are hitting restaurants hard. What’s good for farmers is bad for fast food star Chipotle (CMG). Will increased costs derail the best IPO story of 2006?
Chipotle Chief Executive Jack Hartung joins the guys for the conversation.
Are you worried?
“Not really,” says Hartung. “We think a lot of the higher costs may be cyclical… and we think we have pricing power that a lot of other restaurants don’t have. And if costs remain high, customers are going to have to pay higher prices.”
So you’re going to pass off costs?