In an interview on CNBC’s Mad Money, Scott Boatwright said Chipotle (CMG) needs to protect and strengthen the core brand. It plans to evolve the brand message and revamp the rewards program. It’s seeing positive momentum after the launch of the protein menu. Menu innovation this year “will be like nothing you have seen historically,” he noted. The lower end consumer is “bouncing back,” he added. The company doesn’t have any restaurants that are underperforming, according to Boatwright.
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