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Chipotle Mexican Grill, Inc. Message Board

  • equityrich equityrich Oct 2, 2012 6:19 PM Flag

    Chipotle Responds to Einhorn allegations

    Chipotle Mexican Grill Inc CMG:NYSE
    Chipotle: Taco Bell's new menu not hurting sales
    5:17 PM ET
    SAN FRANCISCO (MarketWatch) -- Chipotle Mexican Grill isn't seeing Taco Bell's new Cantina Bell menu pressuring its sales. "Taco Bell doesn't present threats to Chipotle," company spokesman Chris Arnold told MarketWatch in response to comments made Tuesday by noted investor David Einhorn. "We haven't seen Taco Bell to be a threat at all." Einhorn, speaking at the Value Investing Congress conference, said he was short Chipotle, a bet that the stock will go down -- rather than up -- over time. He cited the rising threat of Taco Bell and its Cantina Bell menu, which competes directly with Chipotle. "It's easy to mimic the things we do," Arnold added. "The things that can't be copied is the soul of a chef (Chipotle was started by a chef). Our food is prepared with that attention to detail. We have very loyal customers. We believe our customers understand the difference between what Chipotle is doing and what Taco Bell is doing." Taco Bell is owned by Yum Br ands . Chipotle shares fell 4% to $302.96 Tuesday. Year-to-date, the stock is down 10% despite a run up over the past month. Yum shares lost 1% to $66.45 Tuesday.

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