Chipotle Mexican Grill, Inc. CMG investors may not be very happy over the past few months, but the company is trying to figure out a new way to keep its customers coming back.
A three-month long program called "Chiptopia" is part of the company's plan to create its first-ever permanent loyalty program.
"We created Chiptopia to reward our most loyal customers," said Mark Crumpacker, chief creative and development officer at Chipotle. "While Chiptopia Summer Rewards lasts just three months, we will be carefully listening to our customers and using what we learn as we consider the design of an ongoing rewards program."
"Chiptopia" will reward customers for making multiple paid visits within a month rather than on the total amount spent, or by accumulating points. The promotion starts on July 1.
The stock was trading around the $750 area as recently as November 2015, but has fallen under $400 during a string of E. coli and food safety issues.
Shares traded recently at $387.52, down 3 percent on the day.
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