Chipotle's Sales Trends Encouraging, but Promotional and Operational Costs Temper Our Enthusiasm
With narrow-moat Chipotle releasing preliminary fourth-quarter figures in January, our focus shifted to three areas during its full fourth-quarter update: (1) early 2017 sales trends; (2) cost and rollout strategies for guest experience efforts; and (3) implications for 2017 and longer-term financials.With respect to sales, management noted that January comps improved 24.6%. This represents a 9.1% decline on a two-year basis, which is a nice pick-up from the mid-teen decline in two-year comps ...
Chipotle Mexican Grill together with its subsidiaries operates Chipotle Mexican Grill restaurants, which feature a menu of burritos, burrito bowls (a burrito without the tortilla), tacos, and salads. The company operates Chipotle restaurants throughout the United States, international Chipotle restaurants, and non-Chipotle restaurants. The company uses various herbs, spices and seasonings to prepare its meats and vegetables. The company also serves tortilla chips that seasoned with lime juice and salt, with sides of hand mashed guacamole, salsas, or queso. In addition to sodas, fruit and tea drinks, and organic milk, most of the company's restaurants also provide a selection of beer and margaritas.
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