Welcome to our dedicated page for Chipotle Mexican Grill news (Ticker: CMG), a resource for investors and traders seeking the latest updates and insights on Chipotle Mexican Grill stock.
Chipotle Mexican Grill, Inc. (NYSE: CMG), a leader in the fast-casual dining industry, is dedicated to serving responsibly sourced, classically-cooked, real food without artificial colors, flavors, or preservatives. Known for its high-quality raw ingredients and distinctive atmosphere, Chipotle aims to provide an exceptional dining experience more akin to fine dining.
Founded on the principle that fast food does not need to compromise on quality, Chipotle offers a menu featuring burritos, burrito bowls, tacos, quesadillas, and beverages. As of December 31, 2023, the company operated over 3,400 restaurants worldwide, including locations in the United States, Canada, the United Kingdom, France, Germany, and Kuwait. The company has plans for continued growth, recently signing a development agreement with Alshaya Group to expand in the Middle East.
In 2023, the company reported systemwide sales of $9.9 billion and continues to innovate with new menu items, such as the popular Chicken al Pastor, which quickly became a fan favorite. Chipotle has also made significant strides in the digital space, with 36.5% of its revenue in Q1 2024 coming from digital sales. The company remains committed to sustainability and technology, aiming to make its high-quality food more accessible to a broader audience.
Financially, Chipotle is robust, reporting $2.7 billion in revenue for Q1 2024, a 14.1% increase year-over-year. The company achieved a net income of $359.3 million, or $13.01 per diluted share, in the same quarter. Chipotle's restaurant-level operating margin stood at 27.5%, reflecting strong operational efficiency.
Partnerships and community engagement are also key aspects of Chipotle's strategy. The company is the official Mexican-themed quick service and fast-casual restaurant of the NHL and actively supports youth and national hockey teams. Chipotle is recognized for its employee engagement and opportunities for advancement, making it a desirable workplace for over 115,000 passionate employees.
Looking ahead, Chipotle aims to sustain its growth trajectory with plans for more restaurant openings, continued focus on digital ordering, and adherence to sustainable business practices. For more information or to place an order, visit www.chipotle.com.
Chipotle Mexican Grill (NYSE: CMG) has announced 'Extra Sunday,' a new promotional event on February 10, 2025, offering free Guac and Queso Blanco to Chipotle Rewards members with any entrée purchase. The promotion responds to the fact that over 40% of employed Americans believe the Monday after the football championship should be a national holiday.
During the championship game on February 9, Chipotle will distribute up to 50,000 free entrée codes via X and Instagram when 'extra' events occur, such as fourth down conversions or successful extra point kicks. The codes will be available on a first-come, first-served basis through text message claims.
This initiative marks Chipotle's first promotion offering both free Guac and Queso Blanco simultaneously, available exclusively through the Chipotle app and website using promo code 'EXTRA25'. The promotion comes as an estimated 16.1 million U.S. employees planned to miss work the day after the championship game in 2024.
Chipotle Mexican Grill (NYSE: CMG) announced minority investments in two aquatic plant-based technology companies through its Cultivate Next fund: Plantible and CH4 Global. Plantible develops Rubi Protein™ from duckweed (Lemna), creating a plant-based protein that mimics animal proteins while using minimal water and reducing carbon emissions. CH4 Global produces Methane Tamer™, an Asparagopsis seaweed-based feed additive aimed at reducing cattle methane emissions by up to 90%.
These investments align with Chipotle's mission to Cultivate a Better World and support its growth plans to reach 7,000 restaurants in North America. The investments will help scale production of sustainable food solutions and reduce environmental impact in the food industry. These companies join Chipotle's existing Cultivate Next portfolio, which includes various sustainable food and technology ventures.
Chipotle Mexican Grill (NYSE: CMG) is expanding its Strava partnership globally in 2025, launching 'The City Challenge' across 25 markets in North America and Europe. The challenge allows participants to compete on 'Chipotle segments' for a chance to win free Lifestyle Bowls for a year, with cities competing collectively for the highest mileage to win a BOGO offer for their entire city.
The company is also introducing a 'Goals, Gym, Guac' text message community ahead of 'No Quitters Day' on January 10, offering exclusive content and opportunities to win free Lifestyle Bowls. Additionally, Chipotle is offering $0 delivery fees on Lifestyle Bowl orders from January 2-31, 2025. The initiative features seven different Lifestyle Bowls catering to various dietary preferences, including Whole30®, keto, and vegan options.
Chipotle Mexican Grill (NYSE: CMG) has scheduled its fourth quarter and full year 2024 financial results announcement for February 4, 2025. The company will release its financial results at approximately 4:10 PM Eastern time, followed by a conference call at 4:30 PM Eastern time. The call will discuss Q4 and full year 2024 results, along with providing a business update for Q1 2025.
Participants can join via phone using the code 4898404: domestic callers at 1-888-317-6003 and international callers at 1-412-317-6061. The call will also be webcast live on Chipotle's investor relations website, with an archived version available approximately one hour after the call ends.
Chipotle Mexican Grill (NYSE: CMG) has announced the opening of its 1,000th Chipotlane restaurant in the Kansas City metro area. Chipotlanes, which represent nearly 30% of Chipotle's 3,600+ restaurants, have demonstrated higher volumes and greater returns compared to traditional formats. The company plans to open 315-345 new restaurants in 2025, with at least 80% featuring Chipotlanes. This expansion aligns with Chipotle's goal of reaching 7,000 restaurants in North America, targeting 8-10% annual unit growth. The drive-thru pickup process takes less than 30 seconds to complete.
Chipotle Mexican Grill (NYSE: CMG) is bringing back three popular merchandise items in its 'All I Want Is Chipotle' holiday collection, available from November 14. The collection includes the Cilantro Soap ($10), 'Water' Cup Candle ($28), and Car Napkin Holder ($20), also available as a bundle for $50. Chipotle Rewards members can participate in a sweepstakes by exchanging points for entries to win the bundle. Additionally, the first 20,000 customers purchasing $40+ in holiday-themed gift cards will receive a BOGO entrée offer.
Chipotle Mexican Grill has appointed Scott Boatwright as chief executive officer and board member, effective immediately. Boatwright, who previously served as chief operating officer since 2017 and interim CEO since August, has been instrumental in managing over 125,000 employees and 3,600 restaurants. His achievements include improving guest experience, integrating new technology, building strong company culture, and achieving industry-leading retention rates. Prior to Chipotle, he spent 18 years with Arby's Restaurant Group, last serving as senior vice president of operations overseeing 1,700 restaurants.
Chipotle Mexican Grill reported strong Q3 2024 results with total revenue increasing 13.0% to $2.8 billion. Comparable restaurant sales grew 6.0%, driven by a 3.3% increase in transactions and a 2.7% rise in average check. Operating margin improved to 16.9% from 16.0%, while restaurant level operating margin decreased to 25.5% from 26.3%. The company opened 86 new company-operated restaurants, with 73 featuring Chipotlanes. Digital sales represented 34.0% of total food and beverage revenue. The return of Smoked Brisket contributed to the strong performance, though higher ingredient costs impacted food expenses.
Chipotle Mexican Grill (NYSE: CMG) has announced a partnership with Paradox to introduce a new AI-powered hiring platform across its 3,500+ restaurants in North America and Europe. The system, driven by Conversational AI, aims to reduce hiring time by up to 75% and features a virtual assistant named 'Ava Cado' that can communicate in multiple languages.
The platform is designed to streamline the hiring process, allowing General Managers to focus more on restaurant operations and guest experience. It's expected to decrease time to hire, reduce job advertising costs, and improve candidate experience. This initiative supports Chipotle's goal of operating 7,000 restaurants in North America and aligns with its recognition as a leading workplace, offering benefits such as debt-free degrees and career advancement opportunities.
Chipotle Mexican Grill (NYSE: CMG) has announced minority investments in two companies through its $100 million Cultivate Next venture fund: Lumachain, an AI supply chain platform, and Brassica, a fast-casual restaurant concept. Lumachain, headquartered in Sydney, Australia, offers a traceability solution that tracks food items from farm to table in real-time, complemented by a Computer Vision AI platform for monitoring food production plants. Brassica, based in Columbus, Ohio, serves Eastern Mediterranean-inspired cuisine at six locations, focusing on wholesome, locally-sourced ingredients.
These investments align with Chipotle's mission to Cultivate a Better World and support its growth plans to operate 7,000 restaurants in North America. The Cultivate Next fund, introduced in 2022, aims to make early-stage investments in strategically aligned companies that can accelerate Chipotle's long-term growth.
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