CHIPOTLE ACHIEVES 3,000TH RESTAURANT MILESTONE WITH A CHIPOTLANE® IN PHOENIX

Rhea-AI Summary

Chipotle Mexican Grill (NYSE: CMG) has celebrated the opening of its 3,000^th restaurant in Phoenix, Arizona, featuring the innovative Chipotlane drive-thru for digital orders. This milestone reflects the brand's commitment to expand its footprint, aiming for over 7,000 locations in North America. In the upcoming year, Chipotle plans to open 235 to 250 new restaurants, with a strategy focusing on enhancing guest access through digital innovations and locations. The company emphasizes achieving sustainable long-term growth and improving customer experiences.

Positive

• Achievement of 3,000th restaurant milestone supports growth strategy.
• Plans to open 235 to 250 new restaurants in the next year.
• Continued focus on Chipotlane model, enhancing sales and customer access.

Negative

• None.

NEWPORT BEACH, Calif., Feb. 15, 2022 /PRNewswire/ -- Chipotle Mexican Grill (NYSE: CMG) today announced the opening of its 3,000^th restaurant, in Phoenix, Arizona, featuring the brand's digital order drive thru pick-up lane called a Chipotlane®. To celebrate the monumental opening, Chipotle's executive leadership team will virtually ring The Opening Bell® at the New York Stock Exchange today at 9:30 a.m. E.S.T.

"This achievement is a testament to our phenomenal teams and their relentless pursuit of bringing Food with Integrity to more communities. We are thrilled to celebrate our 3,000^th restaurant opening, and the progress we've made towards our goal of having 7,000 restaurants or more in North America," said Brian Niccol, Chairman and Chief Executive Officer, Chipotle.

Over the next year, Chipotle plans to open between 235 to 250 new restaurants. In 2021, Chipotle opened 215 new locations in the United States, Canada and Europe, and approximately 80% of the new restaurants featured a Chipotlane. This format has proven to enhance guest access and convenience, as well as increase new restaurant sales, margins, and returns. With a long-term goal of more than doubling its restaurant count in North America, the company has a three-pronged approach to expanding its Chipotlane footprint including new restaurant openings, strategic relocations and existing building conversions. Chipotle is also targeting growth through small-town opportunities that deliver results at or better than traditional locations.

"Our phenomenal teams have demonstrated their abilities to deliver against our aggressive expansion strategies," added Jack Hartung, Chief Financial Officer, Chipotle. "We are well positioned to drive sustainable long-term growth and I am optimistic that we will achieve our goals while continuing to Cultivate a Better World."

Chipotle continues to seek innovative solutions to enhance experiences for its team members and its guests. In December 2021, the brand opened its first Chipotlane Digital Kitchen prototype with a Chipotlane and walk-up window for efficient digital order pickup. Additionally, the brand has rolled out smarter pick-up times, evolved its Chipotle Rewards loyalty program, and expanded its digital flywheel to include numerous digital ordering enhancements.  

Chipotle's 3000^th restaurant is located at 3185 E. Bell Road, Phoenix, AZ 85032 and is open daily from 10:45 a.m. to 10 p.m.

ABOUT CHIPOTLE

Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. Chipotle had over 2,950 restaurants as of December 31, 2021, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. Chipotle is ranked on the Fortune 500 and is recognized on the 2021 lists for Forbes' America's Best Employers and Fortune's Most Admired Companies. With nearly 100,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. For more information or to place an order online, visit WWW.CHIPOTLE.COM.

 

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SOURCE Chipotle Mexican Grill, Inc.

FAQ

What milestone did Chipotle reach on February 15, 2022?

Chipotle opened its 3,000th restaurant in Phoenix, Arizona.

What is the significance of the Chipotlane at Chipotle's new restaurant?

The Chipotlane allows customers to pick up digital orders without leaving their vehicles.

How many new restaurants does Chipotle plan to open in 2022?

Chipotle plans to open between 235 to 250 new restaurants this year.

What is Chipotle's long-term goal regarding restaurant locations?

Chipotle aims to have over 7,000 restaurants in North America.

What recent developments has Chipotle made to enhance customer experience?

Chipotle has implemented digital ordering enhancements and smarter pick-up times.