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Brian Niccol
Chairman & Chief Executive Officer, Starbucks

Chipotle CEO Brian Niccol: Consumers continue to talk about tightening up

🎥 Jul 24, 2024 📺 CNBC Television ⏱ 3m 👁 10011 views
Brian Niccol, Chipotle CEO, joins CNBC's Kate Rogers and 'Closing Bell Overtime' to talk Chipotle's quarterly results that sent shares skyrocketing in overtime. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/42d859g » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Foll...
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About Brian Niccol

Brian Niccol, chairman and CEO of Starbucks, has been discussing the company’s turnaround efforts following several quarters of reported growth. In earnings interviews, Niccol stated that the company’s sales growth was driven by an increase in transactions, which he attributed to initiatives such as the “green apron service model” and a focus on customer service. He said the company had line of sight on over $2 billion in cost savings over the next two years and described Starbucks as an “affordable luxury item” that is “priced pretty darn competitively.” Niccol also discussed the upcoming launch of a scheduled ordering system on May 11, which he said was intended to address bottlenecks created by mobile ordering. In April 2026, Niccol appeared alongside Tennessee Governor Bill Lee to announce that Starbucks would open a new corporate office in Nashville, with plans to invest over $100 million and create 2,000 jobs. Niccol described the move as “strategically smart,” citing access to talent in procurement and technology, as well as an opportunity to grow the company’s presence in the Southeast. He stated that Seattle would remain the company’s global headquarters. In a separate leadership discussion, Niccol said he aims to lead by ensuring “you have the smartest people in the room” and described his management style as “knights of the round table versus king and court.”

Source: AI-verified profile updated from Brian Niccol's recent appearances. Browse all interviews →

Transcript (9 segments)
✨ AI-enhanced transcript with speaker attribution
H
Host0:03
Mike, we're going to see you in just a bit, but let's get a check on Chipotle. Rallies on for the second quarter. Joining us is Brian Niccol and Indicate Rogers. Kate?
K
Kate0:19
Morgan, thanks so much. Brian, thanks for joining us.
B
Brian Niccol0:23
Great to be with you guys.
K
Kate0:25
I'll start here. There's no $5 combo. Tell us how you're managing this left.
B
Brian Niccol0:44
I'm really proud of the team and the results we were able to achieve. That's really a testament to great throughput. It really was a terrific quarter. The value proposition for Chipotle really hinges on the great culinary, providing great customization, and the generous portions we provide.
K
Kate1:35
Brian, last quarter, has what you said last time stayed steady?
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Brian Niccol1:44
Yeah, we're very fortunate to continue to see the strength of transaction continuing. We hit on all cylinders between the launch of chicken al pastor. Yes, we continue to see really nice performance, and I think it's a testament to great culinary, great customization.
K
Kate2:21
Brian, great to have you back on otherwise with the report, but we got the commentary about restaurant activity. We had Tilman Fertitta on the Dom Perignon effect, what he calls the steak effect, as people pull back on restaurant spending. How do you continue to sustain this growth?
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Brian Niccol2:59
We definitely continue to see consumers. We saw, you know, consumers frankly move their buying behaviors throughout the quarter. I think we talked about this in the past. We kind of move into the summer season, where a lot of behaviors are still out of the ordinary. We're still trying to understand what that behavior looks like between all the travel that people continue to take, and how that changes their normal routine. What I keep reminding our team: look, whatever happens, macro or seasonally, we have to figure out how to operate to the best of our ability. We have a saying: we treasure every customer. Some of the other things around...