(Bloomberg Businessweek) -- Niccol’s turnaround of Chipotle would have been hard to imagine when he got the job in February 2018. The company had lost more than $16 billion in market value after outbreaks of E. coli and norovirus made hundreds of customers sick in multiple states, raising questions about its food-safety practices. The brand was so badly tarnished that some analysts wondered whether Chipotle could ever recover.
But the chain, which once disrupted the fast-food industry by offering customized burritos stuffed with options such as fresh guacamole and responsibly sourced pork, has been one of the best stocks in the S&P 500 this year. Same-stores sales have accelerated each quarter for a year. The company has been buoyed by Niccol’s push into delivery, a focus on fundamentals (promotions such as milkshakes and avocado tostadas, digital ordering, and faster service times), and perhaps most important, an absence of foodborne illnesses.
To contact the author of this story: Craig Giammona in New York at cgiammona@bloomberg.net
To contact the editor responsible for this story: Bret Begun at bbegun@bloomberg.net, Jeremy Keehn
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