Chipotle fans rejoiced when an Glen Ellyn franchise opened at 695 Roosevelt Road. But even with the Mexican restaurant chain's success, higher prices could be on the horizon.
On Thursday, the company announced that better-than-expected sales meant higher quarterly profits, according to the Huffington Post. But to offset higher food costs, Chipotle Mexican Grill restaurants could raise prices in mid-2014, according to the article. Chipotle uses natural meats and tortillas that do not contain genetically modified organisms.
Sales for established Chipotle restaurants—those open 13 months or longer—were up 6.2 percent in the last quarter, more than the anticipated 4.7 percent, according to the report. The earnings news boosted shares for stakeholders by 7.7 percent.
Chipotle has been reluctant to raise prices over the past few years, despite increasing costs for ingredients, like avocados and salsa. It's unclear how much prices could go up next year.
Would you pay more for Chipotle? Or will you stop eating there if prices go up?