In yet another turnaround move, Chipotle Mexican Grill (ticker: CMG) is opening a burger restaurant in Lancaster, Ohio called “Tasty Made,” reports Bloomberg. The menu will feature hamburgers, French fries and milkshakes, with the beef only from antibiotic and added hormone-free cows.
The fast casual chain started talking about this idea back in March and was looking to trademark it as “Better Burger,” though now that’s not happening.
Chipotle has its hand in several other restaurants, like its ShopHouse Southeast Asian Kitchen and its investment in Pizzeria Locale.
The restaurant chain is clearly trying everything it can to return to customers’ good graces after recent foodborne illnesses, between giving free food away earlier this year, its new summer rewards program and a Backstreet Boys-tinged video (that closes with a reminder of said summer rewards program).
What might work in Chipotle’s favor here is the restaurant‘s name. Tasty Made sounds more like “Tastykake,” and consumers likely won’t associate the two together — which is a good thing. Consumers aren’t exactly thrilled with the restaurant right now, which obviously has trickled into the company’s stock price.
CMG stock has fallen 42 percent in the last year, and missed both earnings and revenue predictions in its second quarter. Shares didn’t move much shortly after the earnings release last week, though it was up about 1.2 percent Thursday afternoon.
The Twitterverse, of course, had mixed opinions about the promotion.
Apparently Chipotle is opening up a burger joint. #allieverwanted
— Charltien Long (@charltien)
Chipotle trying to branch out to the burger game has disaster written all over it.
— Ant J Pierre (@_BlackMagic_5)
Chipotle is opening a burger restaurant?
— Quincy Cunningham (@Im_OuttaHere)
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Chipotle Is Opening a Burger Chain Called Tasty Made, Because of Course originally appeared on usnews.com