Chipotle says to expect ‘substantial' price increases in California after minimum wage hike

Chipotle customers in California should prepare for “significant” price hikes after the state recently approved minimum wage increases for fast food workers, one of the company’s top executives told shareholders this week.Jack Hartung, Chipotle’s chief financial and administrative officer, told investors on an earnings call on Tuesday that the price hikes are necessary to keep up with increasing labor costs.“We know we have to take something as a significant increase when you talk about a 20%-ish increase ...