Chipotle Mexican Grill closed a restaurant in Powell, Ohio, on Monday because of a "handful of illness reports" the company said. The shares slumped as much as 4.4 per cent on Tuesday, the biggest intraday slide in more than a month.
Chipotle is also using ozone treatment to help with sanitizing, and the report said that the restaurant does a daily employee health check to ensure no workers are experiencing symptoms such as vomiting, diarrhea or nausea. Zacks Investment Research upgraded shares of Chipotle Mexican Grill from a "hold" rating to a "buy" rating and set a $512.00 price target on the stock in a research report on Monday, July 16th. An investigation was carried out after several people reported illness after eating at a single Chipotle in Sterling; two people subsequently tested positive for norovirus.
Chipotle is not aware of any cases of food-borne illness and is cooperating with local health authorities, the report said https://www.businessinsider.com/chipotle-closes-restaurant-after-illness-reports-2018-7, citing a company spokeswoman.
"The Health District food inspection team inspected the restaurant this afternoon".
Chipotle confirmed that the restaurant in question reopened Tuesday after being shuttered the prior day.
Chipotle voluntarily closed the OH restaurant Monday for deep cleaning and removal of all exposed foods and single-use equipment, the company said.
The primary concern for the company surrounding the OH situation is likely the threat of renewed perception among customers that the food is unsafe. "This is a bit of an aberration for them, because they've had a pretty good record over the last couple of years", said the lawyer. "Chipotle's increased focus on food safety and enhancing customer experience, along with various sales-building and strategic initiatives, are likely to drive the top line while high costs and intense competition may be concerning in the future". The stock has been a Wall Street darling. Said Chipotle founder Scott Ells to CNN, "We took swift action and made it clear to the entire company that we have a zero-tolerance policy for not following these [health] protocols". "This is a festering wound to brand trust".