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The question now is whether Chipotle, which opened a record number of restaurants last year, can maintain its goal of doubling its restaurant count in a few years.Wall Street thinks so.
Chipotle Mexican Grill (NYSE: CMG) reported fourth-quarter revenue rose 15% to $2.5 billion, driven by an increase in average checks. The sales surpassed the general analysts’ consensus.
While analysts are busy raising estimates ahead of Chipotle’s earnings results next week, the burrito chain is setting its sights outside the US with its first franchised restaurants. Chipotle Mexican Grill CMG –0.65% (ticker: CMG) announced Tuesday it will open its first locations in Kuwait and Dubai next year, via a partnership with franchise group Alshaya Group. The firm already operates other US eateries abroad, including Starbucks (SBUX) and Shake Shack (SHAK), as well as retailers such as American Eagle Outfitters (AEO).
The burrito chain announced it will open its first locations in Kuwait and Dubai next year, via a partnership with franchise group Alshaya Group.
If you noticed that your Chipotle burrito costs a bit extra lately, or that you need more rewards points for that free entree, you’re not imagining things.