Risk Factors Update Summary
- Food safety issues expanded to include food tampering and contamination risks, affecting revenue.
- Increased costs for supplies and ingredients, including avocados, packaging, dairy, tortillas, beef, and chicken.
- Decrease in food and beverage revenue from delivery orders, down from 19% to 18%.
- Increased wage regulations for delivery drivers may raise delivery fees and reduce digital sales.
- Expansion into the Middle East with the first-ever development agreement to open Chipotle restaurants.
- Implementation of menu price increases to offset rising ingredient and labor costs.
- Potential wage increase to $20 per hour for restaurant workers in California starting in 2024.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1058090&owner=exclude
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