Chipotle Fans, Have No Fear: Guacamole Will Still Be Here
Chipotle (NYSE:CMG) lovers, have no fear — guacamole will still be here. That’s right: We sounded the guacamole alarm, but as it turns out, according to NPR, a spokesman for the Mexican fast-food chain says there’s no reason for Chipotle fans to panic. Because although Chipotle listed a warning in its filing with the U.S. Securities and Exchange Commission recently that led us all to believe the company’s famous guacamole could be on its way out, the chain maintains that the warning was only a routine disclosure of risk factors that could impact business. Read: Guacamole is here to stay.
Public companies are required to routinely submit stock filings to the SEC, and in Chipotle’s earlier this week, the company cited recent climate change and weather volatility to explain why it could need to curtail its production of guacamole in the future, leading to rumors of a “guacapocalypse.” United Press International reported Wednesday that Chipotle was forced to make the warning due to its recognition of the fact that food prices — namely those of avocados, beef, dairy, and chicken — are set to rise in 2014, and that’s an issue for the popular Mexican fast food chain, which goes through a reported 97,000 pounds of avocado in a day. That’s why Chipotle listed a halt in guacamole production under its “risks to business” heading, noting that many customers visit the chain solely for its avocado-based dip.
That’s reason enough to hunker down and prepare for a guacapocalypse, right? Luckily, Chipotle spokesman Chris Arnold says no, and NPR reports that he told The Salt in an email, “There is no looming ‘guacapocalypse’ and I wouldn’t read too much into this.”