Lost amid the swirl of attention showered on Chipotle Mexican Grill’s first price hike in three years is the news that the leader in fast-casual dining concepts will be completely GMO-free by year’s end.
Although the goal is not new and the company has received a lot of traction from its publicly stated views that locally farmed organic produce is a centerpiece of its mission to bring fresh ingredients to the table, that the Mexican-flavored restaurant can achieve this end and receive customer support in the form of higher sales and greater traffic proves it’s a winning strategy others can emulate.
In its just-released quarterly earnings, Chipotle recorded a 24% increase in revenues as same-store sales surged 13.4%, generating a 12% increase in earnings per share. In contrast, General Mills seemed to cynically remove GMOs from its Cheerios cereal.
Chipotle has rejected the concept that the world can’t be fed without GMOs, and the response by its customers shows they approve of its Food With Integrity message. While its stock dipped following the price hike announcement as investors wondered how the increase would impact sales, as the restaurant notes its customers don’t eat at its restaurants for price but rather the experience, it’s earned “permission” from them to raise prices.
Read the full, original article: Chipotle Mexican Grill, Inc. Shows How to Do GMO-Free Right