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 launched its new Plant-Based Chorizo at U.S. locations starting January 3, 2022, for a limited time. This vegan protein option features real ingredients and delivers 16 grams of protein per 4oz serving. Following successful tests in Denver and Indianapolis, Chipotle aims to cater to health-conscious consumers with the introduction of three new Lifestyle Bowls, also available on the app and website. A promotional period from January 3-9 offers $0 delivery on orders featuring Plant-Based Chorizo.
Chipotle Mexican Grill (NYSE: CMG) is set to open its first Chipotlane Digital Kitchen in Cuyahoga Falls, Ohio, by the end of December 2021. This innovative restaurant format prioritizes digital order pickups through a drive-thru and walk-up window, catering to growing digital demand. The Chipotlane design is notably smaller than traditional locations, with no indoor dining, enhancing operational efficiency. Since their introduction in 2018, Chipotlanes have shown a remarkable 15% increase in sales compared to non-Chipotlane restaurants, marking a significant growth strategy for the brand.
Chipotle Mexican Grill (NYSE: CMG) has scheduled a conference call to discuss its fourth quarter and full year 2021 financial results on February 8, 2022, at 4:30 PM Eastern time. An accompanying press release will be issued at approximately 4:10 PM Eastern time on the same day. Participants can join the call by dialing 1-888-317-6003 or 1-412-317-6061 for international calls. The call will also be webcast on Chipotle's investor relations page, with an archived version available shortly after the call's conclusion.
Chipotle Mexican Grill (NYSE: CMG) has launched a playful new product, Cilantro Soap, available on chipotlegoods.com. The product stems from a popular social media meme, reflecting the ongoing cilantro debate among fans. From December 2 to December 8, Chipotle Rewards members can earn an exclusive Cilantro Lover badge with qualifying purchases. Additionally, the company has introduced new items in its Chipotle Goods line, which utilizes avocado pits for sustainable dyeing, furthering its commitment to sustainability with a 51% waste diversion rate achieved in April 2021.
Chipotle Mexican Grill (NYSE: CMG) has premiered a new film titled "A Future Begins," which aims to highlight the challenges faced by U.S. farmers. The film features a cover of Coldplay's "Fix You" by Kacey Musgraves and champions sustainable farming practices. As part of its initiative, Chipotle is advocating for the 2023 Farm Bill to secure access to one million acres for young farmers. The company plans to invest $5 million over the next five years to support young farmers and is promoting a collaboration with Carhartt to launch limited edition apparel.
Chipotle Mexican Grill (NYSE: CMG) has announced ambitious science-based targets to cut its greenhouse gas (GHG) emissions by 50% by 2030, based on 2019 levels. The targets align with a global temperature increase trajectory of 1.5°C and involve key business areas such as restaurants, transportation, food supply chain, and waste reduction. The company aims to achieve this through sustainable practices, improved energy management, and innovative solutions. Additionally, Chipotle has linked a portion of executive compensation to Environmental, Social and Governance (ESG) goals.
Chipotle Mexican Grill (NYSE: CMG) is testing its first chicken menu item, Pollo Asado, at 95 restaurants in Cincinnati and Sacramento. This innovation features flavors like garlic, fresh lime, and guajillo peppers, aiming to cater to the popularity of chicken among its customers. Pollo Asado will be available alongside existing menu items for a limited time, with a promotional $0 delivery fee for online orders from November 8 to 14. This move represents a significant menu expansion for the company, enhancing its offerings with freshly prepared ingredients.
Chipotle Mexican Grill (NYSE: CMG) is celebrating the 21st year of its Boorito Halloween event by launching a virtual restaurant on Roblox. The event, starting on October 28 at 3:30 pm PT, will feature $1 million in free burritos available to the first 30,000 visitors in costume each day until October 31. Additionally, fans can purchase a $5 entrée on Halloween using the promo code 'BOORITO' through the app or website. This initiative aims to engage customers in a unique metaverse experience while providing exclusive virtual items and costumes.
Chipotle Mexican Grill (CMG) reported strong Q3 2021 results, with total revenue rising 21.9% to $2.0 billion and comparable restaurant sales increasing 15.1%. Digital sales accounted for 42.8% of total sales, growing 8.6% year-over-year. The operating margin improved to 12.3% from 6.7%, while diluted EPS surged 154.6% to $7.18. The company opened 41 new restaurants, bringing the total to 2,892. Chipotle maintains a strong cash position with $1.2 billion and no debt, enabling continued strategic investments.
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