• The Wall Street Journal reports that Chipotle "is recovering far more slowly than expected from a series of food-safety problems last year, despite promotions and other efforts to lure back consumers." Same-store sales were down 24 percent for the second quarter - "less than the 29.7% retreat posted in the first quarter but worse than the 20.4% decline analysts predicted" - and CFO Jack Hartung says that the problem is that while loyal customers have returned, is has not been at the same frequency.
• Bloomberg reports that "cattle and hog futures have been sinking amid record American production of beef and pork that doesn’t look to be slowing down any time soon. As the meat piles up, retail prices have already been falling and more supplies means that grilling staples including burgers, ribs and pork chops could get even cheaper."
• Bloomberg reports that "cattle and hog futures have been sinking amid record American production of beef and pork that doesn’t look to be slowing down any time soon. As the meat piles up, retail prices have already been falling and more supplies means that grilling staples including burgers, ribs and pork chops could get even cheaper."
- KC's View:
