loss of purchasing power over time, meaning your dollar will not go as far tomorrow as it did today. It is typically expressed as the annual change in prices for everyday goods and services such as food, furniture, apparel, transportation costs and toys.

Americans found themselves with a lot of money in the bank, and as they spent that money on goods, demand collided with a global supply chain that was too fragile to catch up.

Virus outbreaks shut down factories, ports faced backlogs and a dearth of truckers roiled transit routes. Americans still managed to buy more goods than ever before in 2021, and foreign factories sent a record sum of products to U.S. shops and doorsteps. But all that shopping wasn’t enough to satisfy consumer demand.

stop spending at the start of the pandemic helped to swell savings stockpiles.

And the Federal Reserve’s interest rates are at rock bottom, which has bolstered demand for big purchases made on credit, from houses and cars to business investments like machinery and computers. Families have been taking on more housing and auto debt, data from the Federal Reserve Bank of New York shows, helping to pump up those sectors.

But if stimulus-driven demand is fueling inflation, the diagnosis could come with a silver lining. It may be easier to temper consumer spending than to rapidly reorient tangled supply lines.

People may naturally begin to buy less as government help fades. Spending could shift away from goods and back toward services if the pandemic abates. And the Fed’s policies work on demand — not supply.

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Scotty James Didn’t Need A Triple Cork To Beat Ayumu Hirano For X Games Halfpipe Gold. But He’ll Need It At Olympics

Once again, the men’s snowboard halfpipe competition at X Games aspen came down to Japan’s Ayumu Hirano and Australia’s Scotty James.

In 2018, Hirano, 23, beat out James’ score of 98 by one point. Fast-forward four years and even though Hirano landed the first triple cork ever seen at X Games, James, 27, was able to come out on top with a technical, stylish run.

This year, X Games judges didn’t give out scores; rather, they ranked riders dynamically throughout the competition based on overall impression. Hirano’s best run included back-to-back 1440s (which is what won Shaun White Olympic gold in 2018) and two 1260s.

Hirano’s frontside triple cork 1440 truck driver surely would have earned him some gold hardware if he had been able to put it cleanly into a run but, just like at Dew Tour and the Laax Open, he fell on his next hit.

Hirano described the conditions in the halfpipe Friday as difficult; a steady snowfall throughout the day reduced the overall speed in the pipe. But he does think the triple he landed Friday is the “cleanest that’s ever been done,” so it feels like the next one he attempts—which will be at the Games—will be the one he’s able to successfully link in a run.

James’ best run started off with a switch backside double cork 1260 Weddle grab on the first hit and then went into a cab double 1440, a frontside 900, a backside double 1260 and a frontside double 1260.

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Hirano was chasing James in the second-place position when he decided to attempt the triple, which he says hadn’t been in his strategy for the competition.

“I didn’t feel any pressure because I am always focused on just my run and to improve each run,” Hirano told me through an interpreter. “I just compete with myself, not the other people.”

Sitting in first place ahead of his final run and with no one left to come after him, James put down a stylish victory lap full of airs and two methods (one done switch).

After a self-described disappointing showing at Laax Open, where he finished 11th, James was very clearly stoked and relieved to have done so well at X Games after a short break from the competitive circuit.

James’ last competition prior to Laax was the Aspen 2021 World Championships in March 2021, where he finished second to Totsuka.

This X Games gold was the Aussie’s first major contest win in two years, after his streak of 11 consecutive major competition wins was snapped in 2020.

Totsuka and Hirano have progressed halfpipe riding considerably—with James’ absence, there were questions about how he would slot back into the upper echelon in his return to competition.

At X Games, he put any questions to bed.

“I wanted to give myself the best opportunity to do well this year,” James told me after his win. “I kind of took some time in December just to keep practicing what I was working on and I got some time to myself. That’s the first time I’ve missed events in my career. Comparatively to other athletes I guess they’ve probably missed more than I have so I wanted to take that time and give myself that time to put myself in the best position.”

Heading into the Beijing Olympic cycle, there is the distinct possibility that Japan will sweep the entire men’s halfpipe podium. Hirano has put down the triple in competition, and Ruka Hirano (no relation) and Totsuka have done it in practice.

But James has been working on a triple cork of his own, and though it’s physically much harder for him to, as he put it, “lug my big lanky body around three times,” he says, coyly, that it’s possible it will be ready for the Games.

“I think it’s definitely possible—it’s not impossible. I feel good about it and I gotta bring my best so I’ll plan for every single scenario, every element, every weather, every possible way whether it’s bluebird or snowing or whatever it may be,” James told me. “I’ll make sure I have every run possible to put myself where I want to be.”

Though Hirano has now done the triple in three contests—Dew Tour, Laax Open and X Games—he hasn’t been able to land his following hit. It’s possible that the Olympics could play out similarly to X Games—Hirano will attempt and not land his triple, and James can win off the strength of his best non-triple run.

But if Totsuka, Ayumu and Ruka Hirano have a triple party in Beijing, James will have no choice but to join if he wants to come home with some hardware.

With heavyweights Shaun White and Japan’s Yuto Totsuka sitting out this event ahead of the Tokyo Olympics, there were some new faces—like rookie Kaishu Hirano, Ayumu’s younger brother, who earned bronze at his first X Games.

Australia has just 15 Winter Olympics medals overall and four in snowboarding—one being James’ bronze in halfpipe at the Pyeongchang 2018 Games.

For comparison, the U.S. has earned 305 total medals at the Winter edition of the Games, including 31 in snowboarding. Japan has 58 Winter Olympics medals in all, including nine in snowboarding.

But in the current men’s halfpipe World Snowboard Points List heading into Beijing, Japanese riders make up three of the top four. (James is No. 2.)

“I’m just thrilled; if you’d have asked me a long time ago if I’d win four X Games gold medals I’d have told you you were dreaming so now I’m living my dream,” James said.

“And what’s important to me obviously is coming out and doing my best. Being from Australia—it’s not necessarily a chip on my shoulder, but I feel like I have something to prove. So I’m just really happy to be out here and competing with the best, who live in these elements all the time.”

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Why you might be leasing not buying your next couch

shironosov | iStock | Getty Images

Before eventually moving to California, the grandson of one of interior designer Phyllis Harbinger’s wealthy clients who had just graduated from college opted to rent furniture rather than buy it for an apartment he and his girlfriend had found in the New York area.

“They said, ‘We don’t know what we want to do. We don’t want to be married to anything and we want to be sustainable,'” said Harbinger, who is the assistant chairperson of the Interior Design Department at Fashion Institute of Technology. “This generation is very much into that reuse, repurchase mentality to save the planet for them and their kids.”

Renting office furniture has a long history, but demand for renting home furnishings has been growing — particularly among younger consumers who favor a more mobile lifestyle than was common for older generations.

Online furniture start-ups such as Feather and Fernish offer customers the ability to rent furniture for as little as three months at a time, with the option to swap pieces during or at the end of a contract period if they’re in the mood for something different.

Appealing to a young, mobile customer

Feather and Fernish are “responding to the need of people who have plenty of money but no time to go shop for furniture and perhaps also no desire to commit to ownership of large, bulky furniture because they expect to be moving again — and that’s a younger demographic,” says Susan Inglis, executive director of the Sustainable Furniture Council.

The rent-to-buy option that these start-ups offer also appeals to people who don’t have enough money to buy immediately but would like good quality pieces that they can start living with immediately, she said.

Feather’s customers tend to be in their 20s and 30s, living and working in cities. The service is well-suited to people who have just moved or are about to move, live with roommates and move every six months to a year, Ilyse Kaplan, the company’s president and chief operating officer, wrote in an email.

It’s also more affordable for people moving to a new state, which can cost between $4,300 and $4,800, or even moving down the street in most cities, which averages $1,250, Kaplan said. Feather customers “can get set up in a basic studio apartment for as little as $105 a month, or a basic 1-bedroom apartment for $150 a month.”

Feather cited “significant growth” in new residential leases since the start of Covid-19 and the onset of remote and hybrid work, greater financial uncertainty and the need for more flexible living arrangements. “As living conditions have changed in response to the pandemic, we have seen dining room items decrease in exchange for more functional home-office pieces,” Kaplan said.

Renting furniture to be more sustainable

Brick-and-mortar furniture brands like IKEA are also exploring leasing models. For the Swedish retailer, experimenting with renting is part of a grander plan to transition to a circular business model by 2030, with the aim of eventually using only renewable or recycled raw materials, improving design principles to allow for less wear and tear when products are assembled and disassembled, and refurbishing and repurposing used goods or their components.

IKEA began testing a circular furniture subscription model in 2019, but its progress has been somewhat delayed by pandemic-related restrictions, Kicki Murbeck, circular business designer on Ingka Group’s circular innovation team, wrote in an email. Ingka Group is the main franchisee of the IKEA brand with retail operations in 32 markets that represent about 90% of IKEA’s total retail sales.

Building on previous tests in several European countries, the company introduced a limited roll out of a B2B edition called IKEA Rental in six markets during 2021: Finland, Sweden, Demark, Norway, Spain and Poland. Having tested several contract options, including contract lengths, and banking partners, IKEA is evaluating the results before deciding on the next steps, Murbeck said.

Inglis sees the interest in renting higher-quality furniture as a backlash against the growing popularity in recent decades of “fast furniture,” which relies on cheaper materials to cater to a more nomadic lifestyle and often ends up in landfills.

“People are tired of throwaway junk, and the furniture industry as a whole did itself a disservice years ago by trying really hard to move towards furniture that one would throw away,” she said.

Feather, which currently serves ten major markets across the U.S. including New York, Washington, D.C., San Francisco, and Los Angeles, lets customers switch furniture items even during a lease period if their space, needs, or aesthetic preferences change, offering one free swap to each residential customer, and additional changes with a fee. Roughly 14% of its customers currently use the swap option.

“We’re actively working to keep furniture of all kinds out of landfills” by refurbishing and redeploying every item multiple times, Kaplan said, noting furniture currently accounts for roughly 7% of all landfill waste.

While Feather’s furniture is designed with durable materials and a component part system to aid that process, “when pieces are deemed no longer viable for the next customer, our first step is to work with our like-minded partners at FloorFound to find the furniture a new home. If we can’t resell an item, we will donate it via our partnership with Habitat for Humanity,” Kaplan said. 

Inglis said she expects the trend of retailers offering refurbishing services to grow dramatically in the coming years.

There are customer perception challenges to solve before furniture leasing gains more in popularity. IKEA has heard customers seeking longer-term rentals express concern about how to care for products and what the terms and conditions are if something breaks or isn’t treated well. That needs to be clear for both parties.

IKEA is finding that the mind shift needed to fully understand a subscription model is easier for younger consumers to make than for older ones. Gen X and older consumers tend to associate subscriptions with the rent-to-buy model, which historically has made them pay more than when buying upfront but also excludes the total scope of repair, maintenance and return services that retailers are now providing.

IKEA franchisees also will need to develop a digital product tracking system to be able to move away from a linear sales model and circulate products from one customer to another, and scale up the subscription service.

IKEA already sells refurbished and repurposed products in certain markets and plans to expand this as a key element of its circular business makeover. It also opened a second-hand pop-up store in November 2020 in a shopping mall in Eskilstuna, Sweden, dedicated to retailers that sell reused, organic or sustainably produced products. More than 30,000 IKEA products were given a second life at the pop-up store during the first year of the test period and in December 2021 IKEA extended the program for another year.

“The circular furniture subscription service that we are testing isn’t only about the products as such, although they are of course very important, but is also about understanding what the customer needs and wants and to be able to meet those needs that might change over time,” Murbeck said.

By David Bogoslaw, special to CNBC.com

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Stock Markets Off to Worst Start Since 2016 as Fed Fights Inflation

After falling for a fourth day in a row on Friday, the stock market suffered its worst week in nearly two years, and so far in January the S&P 500 is off to its worst start since 2016. Technology stocks have been hit especially hard, with the Nasdaq Composite Index dropping more than 10 percent from its most recent high, which qualifies as a correction in Wall Street talk.

That’s not all. The bond market is also in disarray, with rates rising sharply and bond prices, which move in the opposite direction, falling. Inflation is red hot, and supply chain disruptions continue.

Until now, the markets looked past such issues during the pandemic, which brought big increases in the value of all kinds of assets.

Yet a crucial factor has changed, which gives some market watchers reason to worry that the recent decline may be consequential. That element is the Federal Reserve.

intervened to save desperately wounded financial markets back in early 2020.

This could be a good thing if it beats back inflation without derailing the economic recovery. But removing this support also inevitably cools the markets as investors move money around, searching for assets that perform better when interest rates are high.

“The Fed’s policies basically got the current bull market started,” said Edward Yardeni, an independent Wall Street economist. “I don’t think they are going to end it all now, but the environment is changing and the Fed is responsible for a lot of this.”

The central bank is tightening monetary policy partly because it has worked. It helped stimulate economic growth by holding short-term interest rates near zero and pumping trillions of dollars into the economy.

This flood of easy money also contributed to the rapid rise in prices of commodities, like food and energy, and financial assets, like stocks, bonds, homes and even cryptocurrency.

said in 1955, the central bank finds itself acting as the adult in the room, “who has ordered the punch bowl removed just when the party was really warming up.”

The mood of the markets shifted on Jan. 5, Mr. Yardeni said, when Fed officials released the minutes of their December policymaking meeting, revealing that they were on the verge of embracing a much tighter monetary policy. A week later, new data showed inflation climbing to its highest level in 40 years.

Putting the two together, it seemed, the Fed would have no choice but to react to curb rapidly rising prices. Stocks began a disorderly decline.

Financial markets now expect the Fed to raise its key interest rate at least three times this year and to start to shrink its balance sheet as soon as this spring. It has reduced the level of its bond buying already. Fed policymakers will meet next week to decide on their next steps, and market strategists will be watching.

Low interest rates made certain sectors especially appealing, foremost among them tech stocks. The S&P 500 information technology sector, which includes Apple and Microsoft, has risen 54 percent on an annualized basis since the market’s pandemic-induced trough in March 2020. One reason for this is that low interest rates amplify the value of the expected future returns of growth-oriented companies like these. If rates rise, this calculus can change abruptly.

The very prospect of higher interest rates has made technology the worst-performing sector in the S&P 500 this year. Since its peak in late December, it has fallen more than 11 percent.

The S&P’s three best-performing sectors in the early days of 2022, on the other hand, are energy, financial services and consumer staples.

like Netflix and Peloton, have begun to flag as people venture out more.

Some astute market analysts foresee bigger problems. Jeremy Grantham, one of the founders of GMO, an asset manager, predicts a catastrophic end to what he calls a “superbubble.”

But the current losses could be beneficial if they let a little air out of a potential bubble, without bursting investor portfolios. This year’s declines erase only a small share of the market’s gains in recent years: The S&P 500 rose nearly 27 percent last year, more than 16 percent in 2020 and nearly 29 percent in 2019.

And the prospects for corporate earnings remain good. Once the Fed starts to act, and the effects are better understood, the stock market party could continue — at a less giddy pace.

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Tom Cruise’s ‘Mission Impossible 7’ and ‘8’ have been delayed until 2023 and 2024

Tom Cruise runs along Blackfriars Bridge in London, during filming for “Mission Impossible 6.”

Victoria Jones – PA Images

The Tom Cruise led “Mission Impossible 7” is moving on the calendar once again. This time, it’s setting its sights on 2023.

Paramount Pictures and Skydance said Friday that both the seventh and eighth installments in the blockbuster movie franchise would be delayed due to the ongoing pandemic. The yet untitled “Mission Impossible 7” will now arrive in theaters on July 14, 2023, and “Mission Impossible 8” is set for June 28, 2024.

This is the latest of several moves for the seventh Mission Impossible film, which has faced production delays throughout the pandemic. Its most recent release date was May 27, 2022.

The postponement comes as the domestic box office has been hit or miss with major blockbuster features. While a film like “Spider-Man: No Way Home” has generated more than $703 million in the U.S. and Canada, no other film released in 2021 has garnered more than $225 million in ticket sales domestically.

The Mission Impossible franchise has relied heavily on international ticket sales, especially from China. “Mission Impossible: Fallout” tallied $791 million in global ticket sales when it came out 2018, and around $570 million of that total came from sales outside the U.S. and Canada. Ticket sales in China accounted for around $181 million of the film’s gross.

China has been more selective about which Hollywood films it allows in theaters, meaning many blockbuster films are missing out on significant revenue.

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The Biden White House Gets Quantum Right—At Last

In my last column I predicted that quantum would be one of the three most important and disruptive technologies we’d all be facing in 2022, alongside cryptocurrencies and hypersonics.

Sure enough, barely a week has passed and the White House has confirmed that prediction.

On Wednesday President Biden signed a National Security Memorandum “on Improving the Cybersecurity of National Security, Department of Defense, and Intelligence Community Systems,” which will have huge implications for quantum technology and quantum security for the United States and for the world.

This document (NSM-8) is the first I’m aware of coming out of the White House national security apparatus that specifically mentions quantum-resistant cryptography in the context of current federal cybersecurity planning.  That’s a big victory for the Quantum Alliance Initiative, which has been pushing the quantum security issue for the past four years, and for quantum information science generally.

The document instructs the National Security Agency to release to Chief Information Officers any relevant documents relating to “quantum resistant protocols, and planning for use of quantum resistant cryptography where necessary.”

The key provision is here:

Within 180 days of the date of this memorandum, agencies shall identify any instances of encryption not in compliance with NSA-approved Quantum Resistant Algorithms or CNSA, where appropriate in accordance with section 1(b)(iv)(A) and (B) of this memorandum, and shall report to the National Manager, at a classification level not to exceed TOP SECRET//SI//NOFORN.

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These sections of a memorandum devoted to protecting the federal government from cybersecurity attack are a big score for those of us who’ve been pressing the government to at least adopt a timeline for identifying which agency systems will be vulnerable to a quantum computer attack: which is just about every agency from Treasury and the Pentagon on down.

This has been a major goal we at the Quantum Alliance Initiative at the Hudson Institute have been fighting for we started in 2018, i.e. getting someone in the American national security apparatus to take the quantum computer threat seriously as a cybersecurity priority.

Still, NSM-8 leaves a huge gap in raising awareness of the need to defend  against the quantum threat: namely, the private sector.  

Given the fact that the federal government finally admits this is a security threat grave enough to demand action from agencies within the next 180 days, that’s all the more reason why private industry needs to take this threat seriously as we’ve been urging in these columns, without waiting for the slow-moving bureaucratic machinery of Washington to put together a plan to protect the rest of us.

That means the private sector, especially our biggest companies and our highly vulnerable financial sector, need to make plans to take on the quantum threat at least as systematically as the federal government now does, and to be ready well before 2030, when the threat of large-scale quantum computers starts to become real.

But there’s more that NSM-8 doesn’t explain.

The first is that there are right now safe ways to protect data and networks from future quantum intrusion but also existing cyber attackers and hackers, using quantum resistant cryptography that private companies in the United States and Canada have developed and deployed. There’s no reason to wait until the NSA or the National Institute of Standards and Technology (NIST) make their final selection of quantum-resistant algorithms, and federal agencies finally respond.

In addition, there are companies here in the U.S. and other countries that are already providing customers with quantum-based cryptographic solutions such quantum key distribution (QKD) for protecting vital communications and links, which are particularly appropriate for certain systems, e.g. industrial systems like SCADA and the power grid—and again which protect users from current cyber threats as well as future quantum threats. 

Finally, getting us quantum-ready and quantum-secure needs to be an international effort, involving partners in Europe, Asia, and the Middle East to develop and deploy quantum-safe solutions. Otherwise, what we’ll discover well before 2030 is that a single U.S. ally whose government or corporations aren’t ready to face a quantum computer attack puts us all at risk—a risk that borders on the catastrophic.

All the same, NSM-8 is a landmark document and the Biden administration deserves praise for releasing it. Consider it a long-awaited wake-up call for understanding how important quantum technology is going to be for our country, and for the world. Our major quantum computer companies like IBM and Google and Microsoft, now also need to embrace the importance of quantum readiness, since their future is as much as at stake as the rest of us.

We all have to make sure that quantum information science, including computing and networking, is able to advance without causing major disruptions in our national security, our lives, or the prospects of freedom around the world.

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Inflation Hits the Fast Food Counter

On a chilly Tuesday afternoon this month, James Marsh stopped by a Chipotle near his suburban Chicago home to grab something to eat.

It had been a while since Mr. Marsh had been to Chipotle — he estimated he goes five times a year — and he stopped cold when he saw the prices.

“I had been getting my usual, a steak burrito, which had been maybe in the mid-$8 range,” said Mr. Marsh, who trades stock options at his home in Hinsdale, Ill. “Now it was more than $9.”

He walked out.

“I figured I’d find something at home,” he said.

The pandemic has led to price spikes in everything from pizza slices in Manhattan to sides of beef in Colorado. And it has led to more expensive items on the menus at fast-food chains, traditionally establishments where people are used to grabbing a quick bite that doesn’t hurt their wallet.

government data. And, in some cases, portions have shrunk.

“In recent years, most fast-food restaurants had, maybe, raised prices in the low single digits each year,” said Matthew Goodman, an analyst at M Science, an alternative data research and analytics firm. “What we’ve seen over the last six-plus months are restaurants being aggressive in pushing through prices.”

This comes at a time when the hypercompetitive fast-food market is booming.

Chains like McDonald’s, Chipotle and Wingstop were big winners of the pandemic as consumers, stuck at home working and tired of cooking multiple meals for their families, increasingly turned to them for convenient solutions. But in the past year, as the cost of ingredients rose and the average hourly wage increased 16 percent to $16.10 in November from a year earlier, according to government data, restaurants began to quietly bump up prices.

But making customers pay more for a burger or a burrito is a tricky art. For many restaurants, it involves complex algorithms and test markets. They need to walk a fine line between raising prices enough to cover expenses while not scaring away customers. Moreover, there isn’t a one-size-fits-all approach. Chains that are operated by franchisees typically allow individual owners to decide pricing. And national chains, like Chipotle and Shake Shack, charge different prices in various parts of the country.

When Carrols Restaurant Group, which operates more than 1,000 Burger Kings, raised prices in the second half of last year, the number of customers actually improved from the third to the fourth quarter. “Over time, we generally have not seen a whole lot of pushback from consumers” on the higher prices, Carrols’ chief executive, Daniel T. Accordino, told analysts at a conference in early January.

Menu prices are likely to continue to climb this year. Many restaurants say they are still paying higher wages to attract employees and expect food prices to rise.

“We expect unprecedented increases in our food basket costs versus 2021,” Ritch Allison, the chief executive of Domino’s Pizza, told Wall Street analysts at a conference this month. While Domino’s hasn’t raised prices, it is altering its promotions — offering the $7.99 pizza deal only to customers ordering online and shrinking the number of chicken wings in certain promotions to eight from 10 — in an effort to maintain profit margins.

Despite the higher food and labor costs, some restaurants are seeing sales and profits rebound past prepandemic levels.

When McDonald’s reports earnings this month, Wall Street analysts expect that its revenues will have hit a five-year high of more than $23 billion, a $2 billion increase from 2019. Net income is predicted to top $7 billion, up from $6 billion in 2019. Other chains like Cracker Barrel and Darden Restaurants, which owns Olive Garden and Longhorn Steakhouse, have resumed dividend payments or cash buybacks of stock after suspending those activities early in the pandemic to conserve cash.

And next month, when Chipotle reports results for 2021, analysts expect revenues to top $7.5 billion, a 34 percent jump from 2019. Net income is expected to almost double from prepandemic levels. In the third quarter, the company repurchased nearly $100 million of its stock. Chipotle declined to make an executive available for an interview, citing the quiet period ahead of its earnings release.

While Chipotle executives blamed higher labor costs for a 4 percent price increase in menu items this summer, the company has been looking for ways to boost its profitability.

One way was to charge higher prices for delivery. Delivery orders through vendors like DoorDash and Uber Eats exploded for Chipotle and other fast-food chains during the pandemic. But so did the commission fees that Chipotle paid the vendors. So in the fall of 2020, it began running tests to see what would happen if it raised the prices of burritos and guacamole and chips that customers ordered for delivery, executives told Wall Street analysts in an earnings call. It essentially meant the customer covered Chipotle’s side of the delivery costs.

The company discovered customers were willing to pay for the convenience of delivery. Now, customers ordering Chipotle for delivery pay about 21 percent more than if they had ordered and picked the food up in the stores, according to an analysis by Jeff Farmer, an analyst at Gordon Haskett Research Advisors.

“I would say that our ultimate goal, so this would be over the long term, maybe the medium term, is to fully protect our margins,” said Jack Hartung, the chief financial officer of Chipotle, on a call with Wall Street analysts last fall. “When you look at our pricing versus other restaurant companies’ for the quality of the food, the quantity of the food, and the quality and convenience of the experience, we offer great value. So we believe we have room to fully protect the margin.”

That doesn’t mean customers are thrilled about the extra costs.

This month, Jacob Herlin, a data scientist in Lakewood, Colo., placed an order: a steak-and-guacamole burrito for $11.95, a Coca-Cola for $3, and chips and guacamole, which were free with a birthday coupon. The total was $14.95, before tax.

But when he clicked to have the food delivered, the price for the burrito jumped to $14.45 and the soda climbed to $3.65, bringing the total to $18.10 before tax, 21 percent more than if he had picked the food up himself.

There was more. Mr. Herlin was charged a delivery fee of $1 and another “service fee” of $2.32, bringing the total for the delivered meal to $23.20. He tipped the driver an additional $3.

Mr. Herlin said he did not mind paying for delivery and wanted drivers to be paid a decent wage. But he felt that Chipotle wasn’t being upfront with customers about the added costs.

“They’re basically hiding the fees two different ways, through that base price increase and through the hidden ‘service fee,’” Mr. Herlin said in an email. “I would very much prefer if they had the same pricing and were just honest about a $5 delivery fee.”

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SFPD officers kill person armed with 2 guns at SFO BART station: Police

A police officer carries ballistic shields at the International Terminal at San Francisco International Airport (SFO) after an incident involving an armed individual in front of the BART station entrance in San Francisco, Calif. Thursday, Jan. 20, 2022.

Stephen Lam | San Francisco Chronicle | Getty Images

San Francisco police officers Thursday morning shot and killed a person armed with two guns in front of the BART station at San Francisco International Airport’s international terminal, according to police.

At about 7:30 a.m., SFPD officers responded to reports of an armed individual at the station and confronted the suspect, who continued to pose a threat despite de-escalation efforts, police said.

Officers then used non-lethal means to try to contain the situation, but the suspect continued to advance, and officers fired shots, killing the person, police said.

First responders are seen at the International Terminal at San Francisco International Airport (SFO) after an incident involving an armed individual in front of the BART station entrance in San Francisco, Calif. Thursday, Jan. 20, 2022.

Stephen Lam | San Francisco Chronicle | Getty Images

BART service to SFO was temporarily suspended during the incident, and passengers were routed around the affected area. Service has since resumed, police said.

Flight operations were not affected.

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