“McDonald’s remains focused on serving our 69 million customers around the world every day.”
– A McDonald’s spokeswoman, from “Chipotle: McDonald’s biggest regret?“
Well, then. Take that, Chipotle.
Apparently, McDonald’s formerly owned a large stake in Chipotle (90% at one point) but sold their shares in 2006. And since then, Chipotle stock has taken off: “Shares of the fast-casual burrito roller are up almost 80 percent this year and over 1,100 percent since its initial public offering in January 2006. Chipotle commands a price-to-earnings ratio of 53, more than twice that of its longtime parent [McDonalds]. It’s increasing earnings and sales at 20 percent and 28 percent, respectively, compared with McDonald’s at 1.5 percent and 2 percent, according to data compiled by Bloomberg.”
But you know, McDonald’s has moved on. After all, they’ve got those 69 million customers around the world to focus on. And they’ve got their hands full arbitrarily rationing McRibs.
Is there anyone else out there who also had no idea that McDonald’s formerly owned a large stake in Chipotle?
(Jim Gaffigan fans: “That’s your McDonalds.”)