Jim Cramer says Chipotle CEO Brian Niccol gave a blueprint on how to succeed in retail in the company's earnings call Wednesday.
div > div.group > p:first-child"> The restaurant chain's"surprising" move to name Brian Niccol as CEO could materialize as the"best" executive hire of last year, he said. Cramer said the company is now playing offense after grappling with a host of food safety issues over the years.
On Wednesday, Chipotle reported earnings and revenue that beat expectations. Niccol likes to spell out his blueprint on the earnings call and he"put on a clinic for how to succeed in retail," Cramer said. The host discussed Niccol's"seven elements" of Chipotle's strategy. Digitize and modernize: Digitization introduced remote ordering and a second line for those customers, while modernization updated the stores, Cramer said.
Throughput:"During Chipotle's heyday, the real problem was throughput, that's industry speak for how long it takes to get customers to go in and out. It took too long. The shorter your throughput, the happier your customers," he said."Niccol's done an enormous amount to solve this problem, thanks to all of Chipotle's digital initiatives."
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