"FINANCIAL INSTITUTION OF AMERICA Merrill Lynch reduced Chipotle and also advised financiers that the supply will "underperform," complaining that the restaurant chain is paying its workers too much, and that cutting labor expenses better will be challenging for the chain. Watch the complete episode right here:
" We are downgrading Chipotle to Underperform from Neutral as we believe, assuming no significant tax reform, that 2018 and 2019 agreement EPS has to go down at the very least 10 percent," analyst Gregory Francfort told CNBC Wednesday. "We believe more gains from trimming hrs will certainly show hard which limits the possibility to get labor below 27 percent of sales also if web traffic recovers."
Yet Chipotle agent Chris Arnold called Bank of The U.S.A.'s evaluation "problematic and unreliable," including that the restaurant chain hasn't already cut staff member hrs but lately increased hours together with the addition of queso to the food selection." *.
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