By Alysha Khan
Despite a strong earnings report, Chipotle Mexican Grill Inc. stock surprisingly dropped seven percent to $676 amid concerns of slowing store sales and a possible hike in prices.
Stephen Anderson, senior restaurant analyst at Miller Tabak + Co., LLC, said the drop was driven by Chipotle executives lowering their 2015 forecast for sales for locations open more than 12 months.
Officials forecasted a low to mid-single digit increase for same-store sales but Anderson said investors were looking for a mid to high-single digit increase.
By Taylor Mullaney and Phoebe Tollefson
When Jim Duignan began the Stockyard Institute in Chicago’s Back of the Yards neighborhood in 1995, he realized that the arts could enable kids to actually solve problems in their own communities.
“We could really be building work based on the young people’s questions,” Duignan said. “And whether it was spoken word, or whether it was building a radio station, or whether it was public art or whether it was doing walks….They came alive. They just came alive.” Continue reading
By J’nelle Agee
Chicago has lost an icon. Ernie Banks, the first African-American to sign to the Chicago Cubs in 1953, has died. The city honored the player affectionately known as Mr. Cub by bringing the bronze statue that usually sits outside of Wrigley Field to Daley Plaza. Fans and officials gathered to pay respect to a legend.
By Yasufumi Saito
Archer Daniels Midland Co., a leading agricultural processer and food ingredient provider, reported Tuesday a mixed result for the fourth quarter. While profit beat Wall Street’s estimate, sales fell short of expectations. Continue reading
By Beth Lawrence
Next month Chicago Public Library patrons will be able to check out WiFi hotspots the same way they check out books. The city will be starting a free wifi pilot program at three locations before expanding to others.
By Rachel White
A free independent housing facility in Chicago’s Humboldt Park neighborhood offers a safe haven for the city’s homeless LGBTQ youth. One resident describes his life in foster care and on the streets before he found a home at a place called El Rescate.
By Emily Hoerner
Republican Gov. Bruce Rauner ignited conversation by sending a memo to the Illinois legislature, calling on lawmakers to prune union rights and government spending just two days before Wednesday’s State of the State address.
The memo prefaced the governor’s cost-saving measures, including state employee rule reforms that Rauner described in the memo as “fair to both state workers and taxpayers.” The note pointed out that federal workers are prohibited from striking and bargaining over wages, benefits and pensions. Illinois union workers are not.
By Alysha Khan
Chipotle Mexican Grill Inc. cracked the billion-dollar earnings mark with a 52. 3 percent increase in earnings for the fourth quarter but sales fell just short of analyst expectations and the stock fell 6.42 percent to $679.85 in after-hours trading.
“Quite simple, I do not think that we would be able to deliver these results without such a compelling and relevant vision,” said CEO Steve Ells on a conference call with analysts.
By Antoinette Isama
On Tuesday and Wednesday the Chicago Symphony Orchestra goes to the movies, presenting, The Godfather, with members of the CSO playing Nino Rota’s original score.
For the 7 p.m. performance in Symphony Center, Francis Ford Coppola’s mega-hit will be shown on a giant HD screen hanging above the stage, while conductor Justin Freer leads the orchestra in Rota’s score. The performances are among the few taking place worldwide since the world premiere of this combination screening and live performance at London’s Royal Albert Hall in December 2014. Continue reading
By Alysha Khan
As Potbelly Corp.’s stock fell throughout 2014, company insiders at the Chicago-based restaurant chain were selling the stock.
Potbelly went public October 4, 2013 at an initial offering price of $14. The stock peaked at $32.40 two days later. It closed Monday at $13.95.
At the beginning of 2014, former CEO Bryant Keil owned more than 1 million shares of Potbelly stock. The chain began as a lunch counter at an antique store on Lincoln Avenue. In 1996, Keil purchased the original location and expanded the neighborhood haunt into a nationwide chain with more than 280 locations. He served as CEO till 2008 and chairman till 2011. He now sits on the Potbelly board of directors.