Latest news with #AvaCado
New York Post
4 days ago
- Business
- New York Post
Chipotle is using AI to open new locations with astoundingly short time frame
Artificial intelligence is helping Chipotle rapidly grow its footprint, according to CEO Scott Boatwright. On Monday, Boatwright told Fortune at the outlet's COO summit that the company 'will open a new Chipotle restaurant this year almost every 24 hours' amid the chain growing at an 'exponential rate.' 'And if you think about the growth that's ahead of us and the need for highly capable, purpose-driven, value-oriented individuals is more critical today than it probably ever has been for our brand,' he said. The company's AI-powered Ava Cado hiring tool has helped shorten the time it takes Chipotle to hire new employees by roughly 75%, Boatwright said, according to the outlet. Ava Cado is part of the AI-infused hiring system that Chipotle unveiled in October 2024 through a partnership with Paradox. Ava Cado's capabilities include talking with candidates, answering their questions about Chipotle, collecting basic information, scheduling interviews for hiring managers and sending offers to candidates who are selected by managers, Chipotle has said. 3 A Chipotle restaurant is seen on March 5, 2014 in Miami, Florida. Getty Images Boatwright said faster hiring times 'not only helps us keep our restaurants staffed, but ensures we have the best talent that's available in the industry,' according to Fortune. During his summit appearance, he also said that when it came to AI, Chipotle looks to 'remove waste and expand or enhance the team member experience' rather than replacing humans, the outlet reported. At Chipotle, AI has also been deployed by the chain to entice customers back to restaurants through deals offered through its rewards program and to customize offers for customers, per Fortune. 3 Workers prepares meals at Chipotle Mexican Grill in West Bloomfield, Michigan on Thursday, January 26, 2006. BLOOMBERG NEWS There were nearly 3,800 Chipotle restaurants globally at the end of March, including nearly 3,700 across the United States, according to the company's first-quarter earnings report. The company aims to launch 315 to 345 new restaurants in 2025, Chipotle has said. During Chipotle's earnings call in April, Boatwright said 80% of those will include a Chipotlane drive thru pick-up lane. 3 Pedestrians walk past a Chipotle Mexican Grill Inc. location in New York, U.S., on Wednesday, Oct. 17, 2012. Bloomberg Chipotle generated nearly $2.9 billion in total revenue during the first-quarter, a 6.4% increase from the same three-month period last year. Its net income, meanwhile, widened to $386.6 million. Its second-quarter financial results are slated to be released in July.
NBC News
02-03-2025
- Business
- NBC News
Chipotle CEO says company will absorb any cost increases from tariffs
President Donald Trump's plan to impose tariffs on America's largest trading partners is sending ripples through the U.S. economy, as businesses and consumers alike prepare to pay Yet for Chipotle customers, it appears, for now, that it will be smoother sailing at the check-out register. In an exclusive interview with NBC Sunday Nightly News, Chipotle CEO Scott Boatwright told anchor Hallie Jackson that, for now, the burrito purveyor intends to keep costs constant for consumers even as some of its cost of goods move higher. 'It is our intent as we sit here today to absorb those costs,' he said, though he cautioned pricing changes could eventually come if elevated costs become a 'significant headwind.' For the most part, Chipotle is insulated from many of the costs implied by the types of tariffs Trump has proposed, which, if followed through with next week, would set 25% duties on Canada, Mexico, and an additional 10% on ones from China on top of a 10% levy imposed earlier this month. Boatwright has previously indicated Chipotle now gets about 50% of its avocados from Mexico, with the rest coming from Colombia, Peru and the Dominican Republic. All told, Boatwright has estimated cost of goods would increase 0.6%, or 60 basis points, on a rolling basis from the planned tariffs. 'We are fortunate to have such an extraordinary economic model at Chipotle that we can withstand those types of inflationary pressures and not have to pass those costs off to the consumer,' Boatwright told Jackson. 'And that's our intent this year. Let's hold pricing constant, because we don't know if the tariffs are transitory, if they're going to be permanent, how sticky they'll be in the new administration. He continued: 'We don't think it's fair to the consumer to pass those costs off to the consumer, because pricing becomes permanent. And so again, back to the idea of delivering extraordinary value to the consumer. We're going to stay the course.' Chipotle finds itself in something of a transition period: In August, Starbucks poached long-time Chipotle CEO Brian Niccol to head the coffee giant. Since then, Chipotle shares have slumped, and in February cautioned that the rest of 2025 would prove a volatile year. with slower sales growth than analysts had hoped for. Yet Boatwright told Jackson he remained bullish on the company's fortunes, noting it planned to build out more than 300 new locations. 'If we can hold price constant, regardless of what's happening in inflationary pressures, what's happening with global economic uncertainty, and give the consumer abundance, [and] variety with wholesome, fresh ingredients that they can't get anywhere else, that's how we'll deliver value for the consumer in 2025,' he said. Boatwright also discussed the firm's new AI tool, Ava Cado, that is designed to help screen job applicants. 'Ava now takes all that work out of the hands of the manager,' he said. 'The candidates respond directly to Ava and she qualifies them, gets the resume loaded or the application loaded, and schedules those interviews for the manager who simply shows up at a scheduled time slot, interviews the candidate and puts them into the workflow.'
Associated Press
19-02-2025
- Business
- Associated Press
CHIPOTLE AIMS TO HIRE FUTURE BILLION DOLLAR BUSINESS LEADERS IN NEW 'BURRITO SEASON' HIRING PUSH
Chipotle is looking to hire 20,000 additional employees for its upcoming 'Burrito Season,' the company's busiest time of the year running from March to May. Crew members at Chipotle can advance to a Restaurateur in as little as three and a half years, with a total potential compensation package of approximately $100,000 while leading a multi-million-dollar business. There are currently five Regional Vice Presidents at Chipotle who started their careers as crew members and now manage regions with restaurant sales of over $1 billion. Chipotle's AI-powered virtual team member 'Ava Cado' helps accelerate the time between applying and getting a job offer. The average amount of time it takes for a candidate to complete their application and start on the job is now just four days. NEWPORT BEACH, Calif., Feb. 19, 2025 /PRNewswire/ -- Chipotle Mexican Grill (NYSE: CMG) today announced it is launching a new hiring campaign to increase applications and ensure its more than 3,700 restaurants are fully staffed for 'Burrito Season,' the company's busiest time of year running from March to May. Chipotle is also rolling out a new employee benefit and TV ads showcasing its real team members to help attract talent for the additional job openings. Those interested in joining Chipotle on its mission to Cultivate a Better World can apply here: With its focus on developing outstanding operators, Chipotle is committed to growing its employees as it continues to pursue its long-term goal of having 7,000 restaurants in North America. In 2024, the company promoted 23,000 team members, and 85% of all restaurant management role promotions were internal. In fact, five out of 11 Regional Vice Presidents at Chipotle started their careers as crew members and worked their way up to the senior level of operations, managing a region of the country with sales over $1 billion. At the company's Field Leader level, a leadership position responsible for a patch or an average of eight restaurant locations in a region, 84% have been promoted internally and they now oversee segments of Chipotle's business that achieve an average of $24 million in sales per year. Ava Cado and Paradox - Driving Efficiencies for Chipotle In October last year, Chipotle announced its partnership with Paradox to introduce a new platform that leverages AI to make the hiring process more efficient for its restaurant teams. The technology features a virtual team member named 'Ava Cado' who uses Conversational AI to chat with candidates, answer their questions about Chipotle, collect basic information, schedule interviews for hiring managers, and send offers to candidates who are selected by managers. To date, 'Ava Cado' has made the hiring process more efficient for Chipotle's restaurant teams, notably: Shortening the average amount of time it takes for a candidate to complete their application and start on the job from 12 days to four days Nearly doubling Chipotle's applicant flow Increasing Chipotle's candidate application completion rate to over 85% from approximately 50% Behind the Foil 2025 Chipotle has released three new 'Behind the Foil' national TV ads featuring its real employees at its restaurants and behind-the-scenes footage of the company's kitchens and prep routines. All three employees featured in the ads have been promoted from crew member roles to restaurant management, demonstrating the potential accelerated career progression at Chipotle: ''Burrito Season' presents candidates with an opportunity to start here, stay here, and reach their career goals with us,' said Ilene Eskenazi, Chief Human Resources Officer. 'As current team members have demonstrated, our restaurants can be the foundation of a fulfilling career, and we're committed to bringing in the best candidates who share our values and onboarding them as efficiently as possible.' Increasing Access to Mindfulness Beginning this year, all Chipotle employees have free access to the critically acclaimed Calm app. Calm aims to help users sleep more, stress less and live mindfully with a range of science-backed content and activities for daily mental health support. More than 73% of Chipotle's restaurant employees are Gen Z, a generation that outspends older customers on mindfulness-related wellness products such as meditation classes, mindfulness apps, and therapy sessions1. Calm joins a growing list of Chipotle's industry-leading benefits that holistically support employees' financial, physical, and mental well-being. Chipotle's benefits include a crew bonus, which allows its restaurant employees the opportunity to earn an extra month's worth of pay each year; access to mental health care and English as a second language courses for employees and their families; tuition reimbursement and debt-free college degrees; free meals and more. The company has found its retention rate is two times higher among employees enrolled in its education assistance program and crew members participating are six times more likely to move into a management role. ABOUT CHIPOTLE Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. There are over 3,700 restaurants as of December 31, 2024, in the United States, Canada, the United Kingdom, France, Germany, Kuwait, and United Arab Emirates and it is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe. Chipotle is ranked on the Fortune 500 and is recognized on Fortune's Most Admired Companies 2025 list and Time Magazine's Most Influential Companies. With over 130,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. 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