Chipotle Mexican Grill Inc Stock Price, News & Analysis

Chipotle Mexican Grill reported strong financial results for Q4 and FY22. Total revenue surged 11.2% YoY to $2.2 billion for Q4, with comparable restaurant sales up 5.6%. Full year revenue reached $8.6 billion, a 14.4% increase. In-restaurant sales climbed 17.5% in Q4 and 26.4% for FY22, while digital sales accounted for 37.4% and 39.4% respectively. The operating margin improved to 13.6% in Q4 and 13.4% for FY22. Diluted EPS for Q4 rose 71.8% to $8.02, and FY22 EPS increased 39.9% to $32.04. Chipotle opened 100 new restaurants in Q4 and 236 during FY22. The outlook for 2023 includes comparable sales growth and new restaurant openings.

Chipotle Mexican Grill (NYSE: CMG) announced a new hiring campaign aiming to fill 15,000 roles to prepare for the busy burrito season from March to May. The initiative highlights internal promotions, with over 90% of management roles filled by existing staff in 2022. The company reported approximately 22,000 internal promotions last year, emphasizing its commitment to employee development. Investments in human capital technology have reportedly improved retention rates and recruitment efforts. Chipotle aims to double its footprint to over 7,000 locations in North America while enhancing employee benefits and training programs.

Chipotle Mexican Grill (NYSE: CMG) launches its 2023 initiative featuring a new lineup of Lifestyle Bowls catering to Gen Z and Millennials' wellness trends and a unique AR Lens on Snapchat to promote physical activity. Starting January 13, the brand will reward 100,000 participants with free guacamole as they engage in healthy challenges. The Lifestyle Bowls, available only through digital orders, include seven options focusing on balanced meals with real ingredients. This marks the first instance of a restaurant brand incorporating wellness via augmented reality.

Chipotle Mexican Grill (NYSE: CMG) has partnered with The Farmlink Project to donate over 10 million pounds of produce to food banks this winter, aiming for a total of 20 million pounds. The initiative encourages customers to round up their bills and donate Chipotle Rewards points, which will be matched until January 31. Chipotle has committed to supporting communities with significant food insecurity, and over its partnership, it has already donated more than 40 million pounds of food. TikTok chef Nick DiGiovanni will share the Chipotle Honey Vinaigrette recipe if the goal is met.

Chipotle Mexican Grill (NYSE: CMG) will hold a conference call on February 7, 2023 at 4:30 PM Eastern time to discuss its fourth quarter and full year 2022 financial results. A press release detailing these results will be available at approximately 4:10 PM Eastern time the same day. Participants can join the call by dialing 1-888-317-6003. The call will be accessible via a live webcast on the company's investor relations page. Chipotle operates nearly 3,100 restaurants globally and emphasizes responsibly sourced food.

Chipotle Mexican Grill (NYSE: CMG) is launching its Mystery Boxes on December 1, offering exclusive merchandise and surprise items including limited edition $500 gift cards. Priced at $30 for the Small Burrito Box and $50 for the Large Burrito Box, these boxes promise a value of up to $100. The promotion runs until December 3 and includes new holiday-themed gift cards. All profits from Chipotle Goods support sustainable farming and apparel initiatives.

A partnership has been established between ASAP.com, the on-demand delivery service of Waitr Holdings, and Chipotle Mexican Grill (NYSE: CMG) to enhance food delivery capabilities nationally. This agreement allows ASAP.com to deliver from Chipotle locations in various markets, marking a significant step towards expanding ASAP's reach. CEO Carl Grimstad highlighted that this collaboration enhances their appeal as they transition from a regional to a national service. Additionally, ASAP has implemented proprietary in-stadium ordering technology to improve customer experience at sporting events.

Chipotle Mexican Grill (NYSE: CMG) has partnered with U.S. Soccer to support the U.S. Men's National Team during an international tournament. The initiative will feature a giveaway of 5,000 free entrée codes for every goal scored by the team, amounting to up to $1 million in free food. Additionally, limited-time menu items inspired by players Christian Pulisic and Weston McKennie will be available. Chipotle will also offer a $0 delivery fee on match days, enhancing customer engagement and leveraging the tournament for promotional activities.