Chipotle’s Chipotle Marketing Skills Earnings: ‘Dentists Are Nowhere Near What They Used To Be’
Chipotle, which recently filed for Chapter 11 bankruptcy protection, has some of the highest-grossing marketing departments in the food industry, according to data compiled by data analytics firm NPD Group.
Chipotle’s sales grew 5% in the third quarter, according the company, which had been losing money.
The company is trying to rebuild its marketing department, which was hit hard by its bankruptcy filing.
It will pay more to hire an executive, the company said in a filing on Tuesday.
It has said that it expects to pay about $1 billion to its existing marketing department employees.
Its marketing departments were among the most expensive in the industry, and its sales have slowed since the release of its burrito, burrito burrito and burrito.
NPD Group reported on Tuesday that Chipotle has raised about $2.5 billion in funding from the likes of Alibaba Group Holding Ltd.
and private equity firms.
Chipotle shares have risen as much as 15% since the filing on Sept. 20.
Its shares were trading down $2,095 on Tuesday at $919.56.