Chipotle otevřelo první restauraci v Asii, v jihokorejském Soulu v čtvrti Gangnam, a testuje tak expanzi prostřednictvím joint venture se Sangmidang Holdings. Firma chce v regionu vytvořit škálovatelný model růstu.
How long would you wait for a Chipotle bowl? Some South Korean diners stuck it out for three hours.
The U.S. fast-casual chain opened its first Asia-region restaurant in Seoul’s Gangnam neighborhood in early September, which also marked its first-ever expansion through a joint venture.
The lines were so long they became a running joke on Korean social media, with one user suggesting a flight to the U.S. might be the faster way to get Chipotle. Then came the how-to guides, in posts filled with menu combinations and step-by-step explainers on how to navigate Chipotle’s build-your-own ordering system.
The joint venture with South Korean food company Sangmidang Holdings is “an important evolution of our global growth strategy,” Nate Lawton, Chipotle’s chief business development officer, told CNBC. There is no one-size-fits-all approach to entering a new market, he said, but Sangmidang brings local market knowledge, operating infrastructure and experience scaling restaurant brands across Asia.
Sangmidang previously brought Shake Shack to the country.
The joint venture, S&C Restaurants Holdings, is 51% owned by Big Bite Company, an affiliate of Sangmidang, with Chipotle holding the remaining 49%, according to the Korean partner.
Chipotle has an established presence in Canada and Europe and is expanding through partnerships in the Middle East and Mexico as well, said Lawton.
“Korea is important because we’re not simply opening restaurants — we’re building a model for how Chipotle can enter and ultimately scale in a new region while protecting what makes the brand special,” Lawton said. “The real measure of Korea’s success won’t be the performance of a single restaurant,” but “whether we can build a repeatable, scalable model.”
The Asia opportunity South Korean consumer interest in Mexican food is relatively strong, as 42% of consumers had eaten it in the previous three months, according to global market intelligence firm Mintel. Another 37% had not eaten it recently but were interested in doing so.
Heng Hong Tan, associate principal for food and drink at Mintel, said South Korea and Singapore — Chipotle’s next stop in Asia — offer favorable conditions for international fast-casual brands because consumers are “well-travelled, globally connected and receptive to international cuisines.”
Chipotle won’t have the market to itself. South Korea already has Mexican-inspired fast-casual chain Cuchara, while Singapore has established players including Guzman y Gomez and Stuff’d, Tan said.
Expanding in Asia also means building the infrastructure to support the business locally.
In South Korea, Chipotle and its local partner built a supply chain designed to meet the company’s global food quality standards. Big Bite said it tapped suppliers and farms it had already vetted for quality and reliability, along with SPC’s sourcing and processing infrastructure, to build the local supply chain.
Beyond Seoul Chipotle is already preparing for the second leg of its Asia expansion. Its joint venture partner told CNBC it is targeting the first half of 2027 for a Singapore launch, though the exact timing and location have yet to be finalized.
“Singapore is a natural next step for Chipotle in Asia,” Lawton said, describing it as a highly international market where consumers are familiar with global brands.
Still, Singapore’s restaurant market has its own set of challenges. Tan pointed to elevated rental, labor and energy costs as pressures on restaurant profitability.
Chipotle has not announced which Asian markets could follow South Korea and Singapore, saying its priority is executing in the markets it has already committed to.
Consumers across many Asian markets are willing to experiment with new flavors and restaurant concepts, creating opportunities for brands to generate awareness and trial quickly, Tan said. Ultimately, brands that can combine international appeal with local relevance are likely to be best positioned for long-term growth in Asia, he added.
Chipotle otevřela první restauraci v Asii, v Soulu, a Jižní Koreu označila za referenční trh pro další expanzi v regionu. Do konce roku 2026 plánuje ještě dvě další pobočky v Jižní Koreji.
The opening marks a significant milestone in Chipotle's global expansion, establishing South Korea as a reference market for future growth across Asia The joint venture established by Chipotle and Sangmidang Holdings, Chipotle's South Korean operator, will bring the brand's global operating standards to life across sourcing, culinary preparation and restaurant operations Chipotle's menu features real ingredients with no artificial colors, flavors or preservatives, with food prepared fresh throughout the day , /PRNewswire/ -- Chipotle Mexican Grill (NYSE: CMG) today announced the opening of its first restaurant in Asia at 423 Gangnam-daero, Seocho-gu, Seoul, South Korea, in partnership with Sangmidang Holdings (formerly SPC Group). South Korea will serve as a reference market for Chipotle's expansion across Asia, establishing a model for how the brand can enter new markets while maintaining its culinary and operational standards. The two companies will run Chipotle's South Korean business through their joint venture, S&C Restaurants Holdings.
Chipotle's first restaurant in Seoul, South Korea will serve as a reference market for Chipotle’s future growth across Asia.
Chipotle plans plans to open two additional restaurants in South Korea by the end of 2026, followed by its first restaurant in Singapore in 2027. See here for photo and video assets: https://www.dropbox.com/scl/fo/i87gmylk26v14mualkxvt/ABbhLe99j4GWjRcElmo_h1M?rlkey=6kmymnmnplrdsqxu77ky93al1&st=s1098u8x&dl=0.
Chipotle selected South Korea for its highly engaged and discerning consumers, sophisticated restaurant culture and strong appreciation for authenticity and ingredient quality. The market provides an important opportunity to demonstrate how Chipotle's Food with Integrity principles and culinary approach can resonate across Asia.
"Asia represents a significant growth opportunity for Chipotle, with strong demand for variety, convenience and real food prepared fresh and served fast," said Scott Boatwright, Chief Executive Officer of Chipotle. "South Korea, in particular, is an ideal market to introduce Chipotle to the region, and we see tremendous potential to grow from here. As we scale across Asia, we will remain focused on what has always differentiated Chipotle—a delicious, customizable meal at a value you can't find anywhere else."
Delivering the Chipotle Experience in South Korea
The partnership combines Sangmidang Holdings' extensive restaurant industry, operational and South Korean market knowledge with Chipotle's culinary expertise. Sangmidang Holdings will be responsible for faithfully delivering the Chipotle experience in South Korea—from ingredient sourcing and cooking methods to team training and restaurant operations. The partnership will help ensure the fundamentals that define Chipotle remain consistent as the brand enters a new region.
"We are thrilled to bring Chipotle to South Korean consumers following tremendous anticipation for the brand's arrival," said Hee-soo Hur, President, Chief Vision Officer (CVO) of Sangmidang Holdings. "Chipotle offers a distinctive dining experience centered on choice, quality and the freedom for every guest to create a meal that reflects their individual tastes. We are proud to introduce the brand to Asia and committed to delivering the authentic Chipotle experience our guests expect."
Real Ingredients, Prepared Fresh
Chipotle's menu is built from real ingredients and contains no artificial colors, flavors or preservatives. The brand's culinary approach emphasizes classic cooking techniques and fresh preparation, with ingredients chopped, seasoned, grilled and prepared in the restaurant throughout the day.
Guests in Seoul can customize burritos, bowls, tacos, quesadillas and salads with familiar Chipotle ingredients and recipes, bringing the brand's signature menu to South Korea.
In partnership with Sangmidang Holdings, Chipotle plans to continue its expansion with two more locations in South Korea by the end of 2026, followed by its first restaurant in Singapore in 2027.
Chipotle's business development group, led by Chief Business Development Officer Nate Lawton, is exploring additional opportunities for growth via outside partnerships. Information on submitting a proposal can be found at https://ir.chipotle.com/contact-us.
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. There are over 4,200 restaurants as of June 30, 2026, in the United States, Canada, the United Kingdom, France, Germany, and the Middle East and it is the only restaurant company of its size that owns and operates all its restaurants in the United States, Canada and Europe. With nearly 140,000 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 chipotle.com.
About Sangmidang Holdings and Big Bite Company
Sangmidang Holdings is a South Korea-based global food company with more than 80 years of history. The company owns 30 well-known brands, including Paris Baguette, Paris Croissant, Passion 5, Coffee@Works and StrEAT, and operates approximately 7,000 locations worldwide.
Sangmidang Holdings has also successfully introduced a number of global brands to the South Korean market, including Baskin-Robbins, Dunkin', Pascucci, LINA'S, Jamba and Shake Shack.
Big Bite Company is a restaurant-focused company affiliated with Sangmidang Holdings, with experience operating global restaurant brands in South Korea. It operates Chipotle South Korea through S&C Restaurants Holdings Pte. Ltd., a joint venture established with Chipotle.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements about the timing of opening Chipotle restaurants in South Korea, Chipotle's plans to open a restaurant in Singapore and Chipotle's prospects for business in Asia. We use words such as "anticipate," "expect," "believe," "could," "should," "may," "will" and similar terms and phrases to identify forward-looking statements. The forward-looking statements in this press release are based on currently available operating, financial and competitive information, available to us as of the date of this release and speak only as of the date they are made. We assume no obligation to update these forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements, including the risks described from time to time in our SEC reports, including our annual report on Form 10-K and quarterly reports on Form 10-Q, all of which are available on the investor relations page of our website at ir.chipotle.com.
Chipotle Mexican Grill oznámí hospodářské výsledky za 3. čtvrtletí 2026 28. října a následně uspořádá konferenční hovor. Současně zveřejní i aktualizaci výhledu podnikání za dosavadní 4. čtvrtletí.
, /PRNewswire/ -- Chipotle Mexican Grill (NYSE: CMG) will host a conference call on Wednesday, October 28, 2026, at 4:30 p.m. ET to discuss third quarter 2026 financial results and provide a business update for the fourth quarter to date.
A press release with third quarter financial results will be issued at approximately 4:10 p.m. ET on Wednesday, October 28, 2026.
Participants can join the conference call by dialing 1-888-317-6003 and will be prompted to enter the code 6029014. International callers can dial 1-412-317-6061 and will be prompted to enter the code 6029014.
The call will also be webcast live from the company's website on the investor relations page at ir.chipotle.com, and registration is available at https://app.webinar.net/eoKjwMGDP7l. An archived webcast will be available approximately one hour after the end of the call.
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. There are over 4,200 restaurants as of June 30, 2026, in the United States, Canada, the United Kingdom, France, Germany, and the Middle East and it is the only restaurant company of its size that owns and operates all its restaurants in the United States, Canada and Europe. With nearly 140,000 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 chipotle.com.
Chipotle za 2. čtvrtletí překonala odhady zisku i tržeb, když EPS činil 33 centů a tržby dosáhly 3,35 miliardy USD. Akcie ale za zhruba měsíc od výsledků klesly asi o 3,4 %.
It has been about a month since the last earnings report for Chipotle Mexican Grill (CMG - Free Report) . Shares have lost about 3.4% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Chipotle due for a breakout? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for Chipotle Mexican Grill, Inc. before we dive into how investors and analysts have reacted as of late.
Chipotle Q2 Earnings & Revenues Beat EstimatesChipotle reported second-quarter 2026 results, with earnings and revenues beating the Zacks Consensus Estimate. The top line increased year over year, while adjusted earnings remained unchanged from the prior-year quarter.
The company benefited from new restaurant openings, positive comparable restaurant sales and transaction growth. Marketing initiatives, menu innovation, Chipotle Rewards engagement and hospitality investments also supported performance. However, inflation, higher ingredient usage and increased operating expenses pressured margins.
CMG’s Q2 Earnings & Revenue DiscussionFor the quarter under review, CMG reported adjusted earnings per share of 33 cents, beating the Zacks Consensus Estimate of 32 cents by 3.13%. The bottom line remained unchanged from the year-ago quarter.
Quarterly revenues of $3.35 billion surpassed the consensus mark of $3.32 billion by 0.81%. The top line increased 9.3% year over year, driven primarily by new restaurant openings and comparable restaurant sales growth.
Comparable restaurant sales increased 2.2% against a 4% decline reported in the prior-year quarter. The improvement reflected a 1% increase in transactions and a 1.2% rise in average check.
During the second quarter, digital sales contributed 38.3% to total food and beverage revenues, up from 35.5% in the year-ago period. The Rewards relaunch, Summer of Extras campaign and new in-restaurant enrollment tools supported digital engagement.
CMG’s Q2 Costs, Operating Highlights & Net IncomeFood, beverage and packaging costs, as a percentage of revenues, were 29.7%, up from 28.9% in the year-ago quarter. The increase reflected inflation in beef and freight, along with higher protein and produce usage. Menu price increases and lower avocado and dairy costs partly offset these pressures.
Labor costs as a percentage of revenues came in at 25% compared with 24.7% reported in the prior-year quarter. The rise was attributable to wage inflation, performance-based bonuses and additional restaurant labor supporting operational and hospitality initiatives. Other operating costs represented 14.9% of revenues compared with 14% a year ago. Higher marketing, insurance, maintenance and utility expenses contributed to the increase.
In the second quarter, restaurant-level operating margin came in at 25.2% compared with 27.4% reported in the prior-year quarter. We predicted the metric to be 25%. Operating margin in the quarter declined 250 basis points year over year to 15.7%. We predicted the metric to be 15.9%.
Adjusted net income totaled $418.9 million compared with $450.4 million in the prior-year quarter. Our estimate for the metric was $418.8 million.
Balance Sheet of ChipotleAs of June 30, 2026, Chipotle had cash and cash equivalents of $228.2 million compared with $350.5 million as of Dec. 31, 2025.
During the quarter, CMG repurchased $630.7 million of stock at an average price of $32.55 per share. The company had $1.7 billion remaining under its share repurchase authorizations at quarter-end. For the first six months of 2026, net cash provided by operating activities was $1.33 billion compared with $1.12 billion in the year-ago period.
Chipotle’s Restaurant OpeningsStrength in new restaurant openings aided the company’s performance in the second quarter. Chipotle opened 100 company-owned restaurants, of which 80 featured a Chipotlane. It also opened one international partner-operated restaurant.
As of June 30, 2026, the company operated 4,186 company-owned restaurants and 15 partner-operated locations. Average restaurant sales were $3.102 million compared with $3.142 million in the prior-year quarter.
Chipotlanes continued to support guest convenience, new restaurant sales, margins and returns. Management remains confident in the company’s ability to operate at least 7,000 restaurants across North America.
CMG’s 2026 OutlookFor 2026, management now expects comparable restaurant sales growth in the low-single-digit range.
The company continues to anticipate 350-370 new restaurant openings, including 10-15 international partner-operated restaurants. Around 80% of new company-owned restaurants are expected to feature a Chipotlane.
How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a upward trend in fresh estimates.
VGM ScoresAt this time, Chipotle has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a D. Following the exact same course, the stock has a grade of D on the value side, putting it in the bottom 40% for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Chipotle has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Chipotle vidí prostor pro nejméně 7 000 restaurací v Severní Americe a dál počítá s asi 350 otevřeními ročně. Nové pobočky si drží zhruba 80% produktivitu a ve druhém roce návratnost vloženého kapitálu kolem 60 %.
Key Takeaways Chipotle sees room for 7,000 North American restaurants while sustaining about 350 annual company openings.CMG's new restaurants maintain roughly 80% productivity, with second-year cash-on-cash returns near 60%.High-efficiency equipment is boosting peak throughput and is targeted for systemwide rollout in 2027. Chipotle Mexican Grill, Inc. (CMG - Free Report) continues to see the potential to operate at least 7,000 restaurants in North America while maintaining a measured development strategy. The company continues to view approximately 350 company-operated openings annually as a sustainable pace, reflecting an emphasis on preserving restaurant execution and the strength of the existing store base as the system expands.
The expansion case is supported by resilient new-unit economics. New restaurant productivity has remained around 80%, while second-year cash-on-cash returns continue to approximate 60%. Meanwhile, the impact of new openings on comparable restaurant sales has held at roughly 100 basis points, consistent with historical levels, even as Chipotle adds restaurants in some of its more densely penetrated markets.
Operational investments could provide additional support as the restaurant base grows. Chipotle’s high-efficiency equipment package is improving food preparation and throughput, with equipped restaurants outperforming the broader system by two to three entrees during peak 15-minute periods. The equipment is now standard in new restaurants, while Chipotle hopes to complete the rollout across the existing portfolio sometime in 2027.
The development model, however, remains sensitive to the pace of expansion. Chipotle has acknowledged that accelerating materially beyond its current annual opening rate could create diminishing returns or place pressure on the existing restaurant network.
CMG’s ability to reach 7,000 North American restaurants without weakening store economics will likely depend on whether its disciplined development approach continues to hold as the footprint expands. So far, stable new-unit productivity and returns suggest that the company’s growth runway remains intact.
Chipotle’s Competitive LandscapeCAVA Group, Inc. (CAVA - Free Report) is also expanding rapidly while maintaining strong new-unit performance. The company ended the second quarter with 476 restaurants after opening 17 net new locations and expects 75-77 net new openings in 2026. New restaurant productivity remained above 100%, with recent openings exceeding expectations on both sales and margin performance, while systemwide average unit volumes reached $3.1 million. CAVA is also incorporating recent opening performance into its site-selection models as it seeks to maintain attractive cash-on-cash returns as development continues.
McDonald’s Corporation (MCD - Free Report) , meanwhile, is pursuing the fastest period of restaurant growth in its history but has adjusted its development pace to preserve attractive returns. The company now expects to reach 50,000 restaurants globally in 2028 rather than by the end of 2027, citing a pressured consumer environment and cumulative inflation in development costs. McDonald’s remains on track for about 2,600 gross openings in 2026 and continues to allocate capital to new restaurants based on their ability to generate attractive returns. The company emphasized that the timing adjustment reflects a focus on quality over quantity and ensuring new openings deliver appropriate returns.
The competitive backdrop reinforces the importance of balancing expansion with restaurant economics. CAVA is demonstrating strong productivity from a much smaller base, while McDonald’s is adjusting development to protect returns as costs and consumer conditions evolve. For Chipotle, maintaining disciplined development as market density rises will be important to preserving the economic strength that supports its long-term North American growth opportunity.
CMG’s Price Performance, Valuation & EstimatesShares of Chipotle have declined 19.2% in the past year compared with the industry’s fall of 7.3%.
CMG One-Year Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, Chipotle trades at a forward price-to-sales (P/S) multiple of 3.16, above the industry’s average of 3.11.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for CMG’s 2026 earnings per share (EPS) implies a year-over-year decline of 2.6%. The EPS estimates for 2026 have increased in the past 30 days.
EPS Trend of CMG Stock
Image Source: Zacks Investment Research
CMG’s Zacks RankChipotle stock currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways Chipotle raised its 2026 comp outlook to low-single-digit growth after Q2 comps rose 2.2%.Chipotle's Recipe for Growth, menu innovation and improved throughput are supporting customer demand.Q3 comps are expected near 1%, making sustained traffic growth crucial to the recovery.
Chipotle Mexican Grill, Inc. (CMG - Free Report) is showing early signs of recovery after a difficult start to 2026. The company raised its full-year comparable sales outlook to the low-single-digit range, supported by improving traffic and stronger execution.
In the second quarter, comparable sales increased 2.2%, helped by 1% transaction growth. Revenues climbed 9.3% to $3.3 billion, while digital sales reached 38.3% of total sales.
Several initiatives are beginning to support demand. Chipotle's Recipe for Growth strategy focuses on menu innovation, restaurant execution, loyalty and digital engagement. The return of Chipotle Honey Chicken and the popularity of Cilantro Lime Sauce helped attract customers. Management also expects these initiatives to create additional transaction growth into 2027.
Operational improvements provide another potential catalyst. The company's high-efficiency equipment package is improving throughput, with equipped restaurants processing two to three additional entrees during peak periods. The rollout is expected to reach about 2,000 restaurants by year-end.
Still, the recovery is not without risks. Management expects third-quarter comps of roughly 1% amid softer recent trends and challenging comparisons.
Overall, Chipotle appears to be moving in the right direction. But sustained traffic growth will be crucial to prove that the worst is truly over.
CMG’s Recovery Stands Out Among Fast-Casual PeersChipotle appears better positioned than some fast-casual rivals as consumer demand remains uneven. CAVA Group (CAVA - Free Report) delivered strong second-quarter 2026 results, with same-restaurant sales rising 9%, supported by 5.3% guest traffic growth. The company also maintained its full-year outlook for 4.5-6.5% same-restaurant sales growth. CAVA’s performance highlights the importance of traffic and menu appeal in a cautious spending environment.
Sweetgreen (SG - Free Report) faced a more difficult quarter. Its second-quarter 2026 same-store sales declined 6.2%, while traffic fell 2%. Sweetgreen also lowered its full-year outlook and now expects same-store sales to decline 7-8% in 2026.
Against these contrasting trends, CMG's low-single-digit 2026 comp outlook looks relatively encouraging. Its second-quarter comparable sales increased 2.2%, with transactions up 1%. Management also sees further potential from menu innovation, Rewards, digital initiatives and improved restaurant throughput.
CMG’s Stock Price Performance, Valuation & EstimatesShares of Chipotle have declined 10.1% in the past six months, underperforming the industry and the S&P 500.
CMG Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, CMG trades at a forward price-to-sales (P/S) multiple of 2.99, below the industry’s average of 3.17.
CMG’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
EPS Trend of CMG StockIn the past 30 days, the earnings estimates for 2026 and 2027 have witnessed upward revisions.
Image Source: Zacks Investment Research
CMG currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The opening at Sidra in Riyadh marks Chipotle's entry into the Kingdom and continues the brand's expansion across the Middle East with franchise partner Alshaya Group , /PRNewswire/ -- Chipotle Mexican Grill (NYSE: CMG) today announced the opening of its first restaurant in the Kingdom of Saudi Arabia (KSA) later this month in partnership with Alshaya Group, a leading international franchise retail operator. Located at Sidra, the premier dining destination in Riyadh next to the Granada Mall, the restaurant marks Chipotle's entry into Saudi Arabia and another milestone in the company's international growth strategy.
Chipotle will open its first restaurant in the Kingdom of Saudi Arabia later this month at Sidra in Riyadh, in partnership with Alshaya Group. The opening marks Chipotle’s entry into Saudi Arabia and continues the brand’s expansion across the Middle East. The Riyadh restaurant will serve Chipotle's menu of burritos, bowls, tacos, quesadillas and salads, all made with responsibly sourced, classically cooked real ingredients and prepared in an open kitchen. Guests will be able to customize their meals with a choice of proteins, rice, beans, salsas, toppings and Chipotle's signature hand-mashed guacamole.
"We're pleased to introduce Chipotle to guests in Saudi Arabia for the first time," said Nate Lawton, Chief Business Development Officer at Chipotle. "Expanding into the Kingdom advances our international growth strategy and provides a compelling opportunity to serve one of the Middle East's most dynamic consumer markets. Riyadh is home to one of the region's leading shopping and leisure destinations, making it an exceptional place to introduce our brand to both local guests and international visitors. Together with Alshaya Group, we look forward to delivering the distinctive Chipotle experience and establishing a strong long-term presence in the country."
The opening builds on Chipotle's continued expansion in partnership with Alshaya Group. Since 2024, Chipotle has opened 16 restaurants across the Middle East, including seven in the United Arab Emirates, seven in Kuwait and two in Qatar.
Jeff Kellen, President, Hospitality division at Alshaya Group, said: "Since its launch in the region over two years ago, Chipotle has surpassed all expectations to become one of our most loved brands. Knowing how eagerly consumers in KSA have awaited its arrival, we look forward to meeting their expectations with Chipotle's delicious, fresh, and real-ingredient menu."
Chipotle's International Growth
Chipotle continues to expand its international footprint with more than 80 company-owned restaurants in Canada, 21 in the U.K., six in France and two in Germany. The company, in partnership with Alsea, a leading restaurant operator in Latin America, recently entered Mexico with its first restaurant in Nuevo León. Chipotle currently operates more than 4,200 restaurants worldwide and expects to open between 350 and 370 new restaurants in 2026 as it continues to execute its "Recipe for Growth" strategy, including a target of operating 7,000 locations in the U.S. and Canada.
Chipotle's business development group, led by Lawton, continues to evaluate strategic opportunities to accelerate the company's global expansion through partnerships, joint ventures and development agreements. Information on submitting a proposal can be found at https://ir.chipotle.com/contact-us.
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. There are over 4,200 restaurants as of June 30, 2026, in the United States, Canada, the United Kingdom, France, Germany, and the Middle East and it is the only restaurant company of its size that owns and operates all its restaurants in the United States, Canada and Europe. With nearly 140,000 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 Chipotle.com.
About Alshaya Group
Alshaya Group is a dynamic family-owned business, first established in Kuwait in 1890. With a consistent record of growth and innovation, Alshaya Group is one of the world's leading brand franchise operators, offering an unparalleled choice of over 50 well-loved, international brands to customers.
Alshaya Group's portfolio extends across the Middle East and North Africa (MENA), Türkiye and Europe, with over 3,500 stores, cafes, restaurants, and leisure destinations, major logistics and food production operations, as well as over 125 online and digital businesses including one of the region's biggest retail loyalty programmes, Aura.
Operating in multiple sectors including Fashion, Food, Health & Beauty, Pharmacy, and Hospitality & Entertainment, over 50,000 Alshaya colleagues are united by a commitment to authentically deliver great customer service and brand experiences.
Learn more about Alshaya Group at www.alshaya.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements about the timing of opening the first Chipotle restaurant in Saudi Arabia, Chipotle's prospects for business in Mexico, the Middle East and Asia, Chipotle's plans to open between 350 and 370 new restaurants in 2026, and its "Recipe for Growth," including its target of operating 7,000 locations in the U.S. and Canada. We use words such as "anticipate," "expect," "believe," "could," "should," "may," "are confident" and similar terms and phrases to identify forward-looking statements. The forward-looking statements in this press release are based on currently available operating, financial and competitive information, available to us as of the date of this release and speak only as of the date they are made. We assume no obligation to update these forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements, including the risks described from time to time in our SEC reports, including our annual report on Form 10-K and quarterly reports on Form 10-Q, all of which are available on the investor relations page of our website at ir.chipotle.com.
Computer Modelling Group oznámila za 1. fiskální čtvrtletí tržby C$27,8 milionu, meziročně nižší, protože růst z akvizic převážil pokles organických tržeb. Management zároveň potvrdil celoroční výhled stabilních organických opakujících se tržeb a bez poklesu upravené EBITDA oproti fiskálnímu roku 2026.
Computer Modelling Group TSE: CMG said first-quarter fiscal 2027 revenue declined as growth from recent acquisitions was outweighed by lower organic revenue and a planned reduction in non-core professional services work, while management reaffirmed its full-year outlook for stable organic recurring revenue and no reduction in adjusted EBITDA from fiscal 2026.
Total revenue for the quarter was C$27.8 million, down year over year. Chief Financial Officer Vipin Khullar said 10% growth from acquisitions was offset by a 16% organic decline. Organic recurring revenue fell 12% during the quarter, which Chief Executive Officer Pramod Jain said marked the final period affected by the comparison with a contract lost last year.
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“Our outlook is for stabilization to return to the business,” Jain said, adding that the company remains focused on organic growth, acquisitions and capital deployment toward what it considers the highest risk-adjusted-return opportunities.
Acquisition Growth Offsets Part of Organic Decline Recurring revenue declined 3% overall in the first quarter. Khullar said acquired businesses contributed 9% recurring revenue growth, including SeisWare and Rose, which were acquired during fiscal 2026. Both acquisitions contributed positively to adjusted EBITDA in the quarter despite seasonal revenue recognition that is weighted toward the second half of the year, he said.
Professional services revenue also declined organically. Khullar attributed the drop primarily to the end of CoFlow-related development funding at the close of calendar 2025 and the continuing wind-down of non-core professional services activity at Bluware. He said CMG had underwritten the Bluware acquisition based on its software growth potential and expected non-core services to be phased out.
Rose partly offset that reduction, with acquired professional services revenue rising 13% and Rose producing a strong first full quarter under CMG ownership, according to Khullar.
Adjusted EBITDA and adjusted EBITDA margin decreased in the quarter because of lower organic recurring revenue and professional services revenue, though the company cited continued cost management. Free cash flow fell to C$3.5 million, reflecting revenue trends and higher income taxes.
Current income tax expense was C$1.5 million, compared with C$900,000 a year earlier. Khullar said the current-quarter amount included a C$400,000 prior-period adjustment and noted that tax expense can fluctuate depending on the jurisdictional mix of income, taxation of cross-border transactions and foreign exchange movements.
Management Reaffirms Full-Year Outlook For the second quarter, CMG expects organic recurring revenue to increase sequentially as a larger portion of renewals occurs in the period. Khullar said the company’s recurring revenue typically builds through the fiscal year, with the first quarter usually its lightest and the fourth quarter generally its heaviest.
However, CMG expects professional services revenue to decline both sequentially and year over year in the second quarter. The company expects the period to be the fiscal year’s lowest quarter for professional services, citing the completion of the Bluware services wind-down, product timing and lower billable activity during summer months.
CMG also expects adjusted EBITDA to decline sequentially and year over year in the second quarter, driven by lower professional services revenue and higher sales and marketing expenses tied to agent commissions on second-quarter contract renewals.
Stable organic recurring revenue growth for fiscal 2027. No reduction in adjusted EBITDA relative to fiscal 2026. Year-over-year improvement in free cash flow. A professional services revenue decline of C$6 million to C$7 million for the year, toward the higher end of the range. Khullar said the revised professional-services outlook reflects a faster-than-forecast wind-down of Bluware’s non-core services operations.
Energy Security and EOR Opportunities Jain said customer discussions point to greater interest in maximizing recovery from existing assets, including through enhanced oil recovery, or EOR, technologies. He said operators are targeting recovery factors as high as 50% and that CMG is directing sales efforts toward the growing importance of EOR globally.
Management also cited increased opportunities for its portfolio approach, in which customers can use multiple technologies from CMG’s acquired businesses alongside its reservoir simulation products. Jain said CMG is increasingly pursuing joint proposals involving two or three companies in its group.
He highlighted renewed interest from international operators in Venezuela, Mexico, Algeria, Angola, Nigeria and Libya, describing those locations as markets with complex reservoirs, heavy oil and mature fields. Jain cautioned that it remains early but said the company sees opportunities developing across the group.
During the question-and-answer session, Jain said EOR processes can take time to move from requests for proposals to commercial wins, but he is seeing more opportunities nearer to commercialization than in the past. He also said CMG renewed all of its contracts in the Middle East, though prospective business in countries where it did not previously have a presence was delayed by regional conflict.
Share Repurchase to Be Funded Through Credit Facility CMG announced a substantial issuer bid and expects to draw up to C$20 million from its existing credit facility to fund it. Jain said the company believes its shares are trading below what the business is worth and views the repurchase as an opportunistic use of capital while maintaining its acquisition strategy.
Over the past two-and-a-half years, CMG has deployed more than C$90 million and completed four major acquisitions. Jain said the acquisition pipeline remains active, but the company is maintaining its standards on price and expected returns.
Khullar said expected fiscal 2027 free cash flow should be more than sufficient to deleverage the portion of the credit facility used to fund the issuer bid. Jain said acquisitions and buybacks are not mutually exclusive, and that CMG intends to continue pursuing transactions that meet or exceed its return thresholds.
About Computer Modelling Group (TSE:CMG)Computer Modelling Group Ltd is a Canada-based provider of reservoir simulation software for the oil and gas industry. Its capabilities include integrated analysis and optimization, black oil and unconventional simulation, reservoir and production system modelling, post-processor visualization, compositional simulation, thermal processes simulation, and fluid property characterization. The firm has operations in over 60 countries in the Americas, Europe, Middle East, Africa, and Asia-Pacific regions.
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Chipotle za týden klesl o 12,64 % a je více než 26 % pod cílovou cenou Wall Street ve výši 44,32 USD. Po výsledcích za 2. čtvrtletí, kdy tržby dosáhly 3,35 mld. USD a EPS činil 33 centů, zůstává konsenzus stále na úrovni Moderate Buy.
Chipotle Mexican Grill (NYSE: CMG | CMG Price Prediction) has dropped 12.64% over the past week, opening Monday, Aug. 10, at $32.44. That puts the stock more than 26% below Wall Street’s consensus price target of $44.32. The selloff extends a brutal year for the fast-casual chain, with shares down 12.71% year to date, 21.37% over the past 12 months and 7.16% over the past month alone.
Chipotle operates over 4,000 restaurants serving customizable burritos, bowls and tacos. The company has been a growth story for years, but recent results show the wheels coming off. The gap between Chipotle’s current price and analyst targets reflects a market pricing in serious headwinds that Wall Street may be underestimating.
Transaction Declines and Margin Pressure Hit Hard The selloff accelerated after Chipotle reported Q2 results on July 29. Revenue came in at $3.35 billion, barely beating the $3.33 billion estimate, while EPS of 33 cents only beat the 32-cent consensus by a penny.
Restaurant-level margin fell 220 basis points to 25.2%, while cost of sales, labor, and other operating expenses all increased. The margin story gets worse when you dig into the cost structure. CFO Adam Rymer explained that “Pricing discipline (1-2% vs. 3-4% inflation) [is] creating 150 bps headwind” for the full year. Management warned of heightened consumer caution, difficult promotional comparisons and an approximately 200-basis-point sales headwind related to industry concerns around Cyclospora; it expects roughly 1% comparable-sales growth in Q3 if the impact persists.
Wall Street Still Sees the Growth Story Intact Despite the weak results and cautious guidance, analyst targets remain well above current levels. Of the 33 analysts covering Chipotle, 24 rate it a Buy and nine rate it a Hold and zero rate it a Sell. Overall, the stock receives a consensus Moderate Buy rating, with an average price target that implies as much as 35% upside potential from current prices.
The bull case centers on Chipotle’s long-term unit growth potential and operational initiatives. Management plans to open 350 to 370 new restaurants in 2026, with 80% featuring Chipotlane drive-thru formats. The company is also rolling out high-efficiency kitchen equipment to 2,000 restaurants by year-end 2026, which management claims is already driving “hundreds of basis points of improvement in comp sales” in test locations.
Analysts also point to Chipotle’s affluent customer base as a defensive moat. Boatwright noted that “60% of our core users are over $100,000 a year in income,” suggesting pricing power with less economically sensitive consumers. The company is increasing menu innovation to four limited-time offers in 2026 and relaunching its rewards program to drive frequency.
Key Factors to Watch The bull case strengthens if management proves it can stabilize transactions and protect margins despite the inflation squeeze. The equipment rollout and menu innovation could drive a meaningful reacceleration in the back half of 2026. The unit growth story remains intact, and the brand still commands premium positioning in fast-casual dining. If comparable sales inflect positive by mid-year and restaurant-level margins hold above 23%, the 22% upside to analyst targets could materialize.
The bear case persists if transaction trends continue deteriorating and margin pressure extends through the first half. The guidance for flat comps embeds expectations of negative 1% to negative 2% underlying trends in the first quarter. Labor and commodity inflation are structural headwinds that won’t disappear quickly. Peer McDonald’s trades at 27x earnings with a 2.16% dividend yield and 45.1% operating margins, offering defensive stability Chipotle can’t match right now.
Contact [email protected] for any questions or corrections.
Salad and Go podalo návrh na bankrot podle kapitoly 11 5. srpna a uzavřelo všechny provozovny. Sweetgreen kvůli obavám z nákazy 6. srpna snížil celoroční výhled na same-store sales -8,0 % až -7,0 % a upravenou EBITDA na -27,0 milionu až -23,0 milionu dolarů.
On July 21, Health and Human Services Secretary Robert F. Kennedy Jr. told reporters, “We do have the outbreak under control.” At that moment the multistate cyclosporiasis outbreak tied to iceberg lettuce had sickened roughly 1,600 people across five states, with 94 hospitalizations and no deaths. Three weeks later, the case count has nearly quadrupled, two deaths have been recorded, and a national salad chain has filed for bankruptcy. The gap between the podium and the produce aisle has rarely been wider.
What Kennedy Said, and the Wrinkle Behind It Kennedy added that “We have an extensive forensics, epidemiological forensics, and we’ve identified the source of the outbreak. We and the companies that are involved have implemented a recall.” The recall referenced iceberg lettuce from Taylor Farms de Mexico, pulled July 17, 2026. But days before Kennedy spoke, the FDA had acknowledged a Taylor Farms sample came back a false positive, muddying the “identified” claim in real time. Subsequent CDC and FDA updates converged back on Taylor Farms. The confidence did not.
What the Numbers Actually Show The CDC’s August 5 update logged 6,358 illnesses across 15 states, at least 278 hospitalizations, and two deaths, both in Michigan, with onset dates running June 22 through July 31. Separately, the FDA has estimated “at least 10,000” sickened, and more than 25,000 Cyclospora infections have been logged nationally this year, more than five times the prior record set in 2019, a broader tally that includes clusters unrelated to this outbreak.
The Salad Chain That Didn’t Serve the Lettuce Here is the twist: none of the hardest-hit healthy chains used the recalled iceberg. They got wrecked anyway. Salad and Go filed for Chapter 11 on August 5, closing all locations and citing the outbreak as an accelerant to existing pressures. Chopt saw traffic fall 24% on July 18, the day after the FDA announcement (Placer.ai via CNBC). Sweetgreen (NYSE:SG) said consumer concerns produced roughly a 6-percentage-point drag on July same-store sales; CEO Jonathan Neman noted on X that the chain has never served iceberg lettuce and sources only U.S.-grown greens. On August 6, Sweetgreen cut full-year guidance to same-store sales of -8.0% to -7.0% and adjusted EBITDA of -$27.0 million to -$23.0 million. The stock is down 35.41% since July 10.
The Contrast: Taco Bell and Chipotle Yum Brands (NYSE:YUM | YUM Price Prediction), whose Taco Bell was the only major chain actually linked to the recall, took an early hit, with foot traffic down 20.8% on July 23 versus comparable Thursdays. CEO Chris Turner said on the Q2 call that “Elevated uncertainty initially weighed on consumer demand. Since then, consumers have become increasingly aware that this is an industry-wide issue, not an issue specific to Taco Bell.” Taco Bell still delivered 7% same-store sales growth. Chipotle Mexican Grill (NYSE:CMG) CFO Adam Rymer flagged “a softening, call it about 200 basis points or so” in late July from cyclospora fears, separate from Chipotle’s salmonella recall tied to jalapenos that sickened roughly 300 people.
The Category Absorbs the Blow NielsenIQ pegged fresh lettuce unit sales down 9% for the week ending July 18 and prepackaged salad dollar sales down 14% for the four weeks ended July 25. Sysco stopped buying Mexican iceberg entirely, even as CEO Kevin Hourican called Taylor Farms a “high quality, high integrity shop.” Local growers benefited: farmers-market sales rose 15% to 30% in some markets (WSJ, via Forbes).
Stabilizing signals are emerging. Michigan lifted its precautionary advisory on bagged salad mixes on August 6 as new infections slowed. But three weeks after a Cabinet secretary declared the outbreak “under control,” one chain is gone, another has slashed guidance, and the produce aisle is still recovering trust it did not lose on its own.
Contact [email protected] for any questions or corrections.
Chipotle Mexican Grill tento týden klesá o více než 13 % po zprávách o spojení s výskytem salmonely v Minnesotě. Úřady vyšetřují 110 případů a z 84 dotázaných nakažených 75 uvedlo, že před onemocněním jedlo v restauraci Chipotle. Chipotle stáhly podezřelé jalapeños z dotčených provozoven.
Shares of Chipotle Mexican Grill Inc. (NYSE:CMG) are trading lower by over 13% this week following news connecting the restaurant chain to a salmonella outbreak in Minnesota.
Chipotle Mexican Grill stock is facing resistance. Why are CMG shares declining? Minnesota Salmonella Outbreak Linked to Chipotle JalapeñosHealth department officials reported 110 cases of salmonella across the state. Among 84 infected individuals interviewed by health investigators, 75 reported eating at a Chipotle restaurant before becoming sick.
In response, Chipotle proactively removed jalapeños, the produce suspected to be linked to the illnesses, from affected locations.
Additionally, on Wednesday, Chipotle filed an SEC Form 8-K noting that public health authorities, including the FDA, are investigating a retail supply chain salmonella outbreak. Minnesota health officials confirmed they have no ongoing concerns regarding Chipotle.
Wall Street Reacts to Chipotle Food Safety HistoryThis week’s selloff market reaction stems from Wall Street’s sensitivity to Chipotle’s history with food safety issues. Previous outbreaks severe enough to cause store avoidance led to margin compression and lower valuation multiples for the company.
Beyond the immediate damage to reputation, this outbreak potentially creates operational issues and cost pressures. Pulled ingredients and switching to alternative growers disrupt local supply chains while increasing operating overhead in the short term.
Investors are potentially pricing in potential risks like legal expenses, regulatory scrutiny and a temporary slowdown in regional sales.
CMG Shares Edge Lower FridayCMG Price Action: Chipotle Mexican Grill shares were down 1.36% at $33.25 at the time of publication on Friday, according to Benzinga Pro data.
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Akcie Chipotle klesly v úterý odpoledne o 6,22 % poté, co zdravotní úřady v Minnesotě spojily salmonelovou nákazu s jejími provozovnami. Firma kvůli tomu stahuje jalapeños.
Chipotle Mexican Grill shares are sliding. Why are CMG shares down? Minnesota Health Officials Trace Salmonella Outbreak to Chipotle OutletsInvestor Fears and Historical Food Safety PrecedentsThe sell-off reflects investor anxiety surrounding food safety liabilities and potential brand degradation. Chipotle’s business model depends heavily on customer trust and fresh ingredient integrity.
Outbreaks of foodborne illnesses present an existential risk to foot traffic and same-store sales growth, as health scares tend to deter consumers and slow transaction volumes.
Wall Street remains hypersensitive to food safety incidents at Chipotle due to historical outbreaks that previously triggered widespread store avoidance, steep margin compression and sharp contractions in the company’s valuation multiple.
Supply Chain Disruptions and Financial FalloutBeyond immediate reputation damage, the outbreak introduces operational friction and cost pressures. Removing key ingredients and switching to alternative growers disrupts localized supply chain networks and increases short-term operating overhead.
Investors are potentially pricing in the risk of heightened regulatory scrutiny, potential legal expenses and temporary sales slumps across impacted regional markets.
CMG Shares Slide Tuesday AfternoonCMG Price Action: Chipotle Mexican Grill shares were down 6.22% at $35.13 at the time of publication on Tuesday, according to Benzinga Pro data.
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Chipotle ve 2. čtvrtletí zvýšila tržby o 9,3 % na 3,3 miliardy USD a upravila celoroční výhled růstu srovnatelných tržeb na nízké jednociferné tempo. Zisk na akcii byl 0,33 USD, meziročně beze změny.
Investors Are Buying Into Sweetgreen Again—Should They?Chipotle Mexican Grill NYSE: CMG reported second-quarter revenue growth of 9.3% to $3.3 billion, supported by a 2.2% increase in comparable restaurant sales and a 1% increase in comparable transactions. The company said its “Recipe for Growth” strategy, including menu innovation, restaurant execution investments and rewards-program changes, contributed to the quarter’s results.
Adjusted diluted earnings per share were $0.33, unchanged from the prior year. Restaurant-level margin was 25.2%, down 220 basis points year over year, as higher food, labor, marketing and other operating costs offset pricing and certain commodity benefits.
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Sales Momentum and Updated Outlook Shake Shack Stock Gets Shaken After Earnings MissChief Financial Officer Adam Rymer said traffic improved through the second quarter and into the first half of July. However, trends softened in the second half of July amid broader consumer caution in the restaurant industry and concern surrounding Cyclospora.
Rymer said Chipotle observed roughly a 200-basis-point sales impact around the industry issue and now expects third-quarter comparable sales growth of approximately 1%, assuming that impact persists through the remainder of the quarter. Chief Executive Officer Scott Boatwright said the company is not involved in the Cyclospora matter and does not use the products implicated in the discussion, adding that its lettuce is sourced in California.
Chipotle Stock Just Hit Bottom—Is a Breakout Next?For the full year, the company raised its outlook and now expects comparable restaurant sales growth in the low single-digit range. Pricing contributed approximately 1.6% in the second quarter and is expected to rise to the mid-2% range in the third quarter. Chipotle expects full-year pricing to land near the high end of its previously communicated 1% to 2% range.
Digital sales totaled $1.3 billion, representing 38.3% of sales, compared with 35.5% a year earlier. Boatwright attributed digital momentum in part to changes in the rewards program, including more personalized offers, simplified enrollment and expanded redemption options.
Restaurant Execution and Technology Investments Management highlighted continued investments intended to improve speed, food quality and hospitality in restaurants. The company deployed its “Linebacker” staffing approach in more than 70% of restaurants during the quarter and said its focus on execution helped improve “Max 15” peak-period throughput for a second consecutive quarter.
Chipotle’s High-Efficiency Equipment Package, or HEAP, has now been installed in more than 1,000 restaurants. The company expects to reach approximately 2,000 locations by year-end and complete the portfolio rollout sometime in 2027. According to Boatwright, restaurants using HEAP are outperforming the broader system by two to three entrees during their peak 15-minute period, with the gains contributing to comparable-sales improvements.
The company said it is reinvesting labor efficiencies from the equipment package back into restaurants, enabling more staffing during preparation and peak periods. It also is rolling out its Chipotle Kitchen digital make-line interface across restaurants, which management said has shown early improvements in order accuracy, on-time fulfillment and guest satisfaction.
Chipotle plans to begin piloting a frictionless in-restaurant rewards experience in August that would enable guests to earn points automatically when paying, without separately scanning a rewards card. The company said only about 20% of in-restaurant transactions currently scan for rewards, compared with nearly 90% of its own digital transactions. New in-store enrollment tools have driven a nearly 20% increase in daily enrollments since their launch, management said.
Menu Innovation, Marketing and Consumer Trends Chipotle Honey Chicken returned during the quarter and outperformed its prior launch, Boatwright said, reaching a cumulative attachment rate above 25%. Cilantro Lime Sauce also continued to generate attachment rates above those of Red Chimichurri and Adobo Ranch, according to management.
The company expects to introduce two additional limited-time protein offerings in the second half of 2026, while also pursuing innovation in beverages, sides and desserts. Boatwright said limited-time offerings can bring new guests to the brand and increase the lifetime value of customers who try them, while encouraging existing customers to visit more often.
Chipotle also cited marketing campaigns and rewards promotions as contributors to engagement. Its Matchday BOGO promotion set a company single-day sales record and became its most successful BOGO promotion, Boatwright said. Management added that younger customers and lower- to middle-income guests, which had faced more pressure previously, showed the greatest improvement in the second quarter.
Boatwright said the company’s brand tracker showed progress in value perceptions across income groups and age cohorts. He emphasized that value is not solely tied to discounting, but also includes convenience, execution, menu innovation, food quality and portions.
Development, Margins and Capital Allocation Chipotle opened 101 restaurants during the quarter, including 80 Chipotlanes and one international partner-operated restaurant. The company continues to expect approximately 350 openings during 2026, with about 80% including a Chipotlane. Management said new-restaurant productivity has remained in the 80% range, while year-two cash-on-cash returns have continued at approximately 60%.
The company believes North America can support at least 7,000 restaurants. In Europe, each country delivered high-single-digit comparable-sales growth during the quarter, according to Boatwright. Chipotle also opened its first restaurant in Monterrey, Mexico, and plans additional Monterrey-area openings this year before expanding to Mexico City in 2027. First locations in Seoul are expected this year, followed by Singapore in early 2027.
Cost of sales rose about 80 basis points to 29.7% of sales in the second quarter, primarily due to beef and freight inflation and increased usage of chicken, steak and produce. Labor costs increased about 30 basis points to 25%, while other operating costs rose about 90 basis points to 14.9%, driven partly by higher marketing, insurance, maintenance and utility expenses.
Chipotle ended the quarter with $800 million in cash, restricted cash and investments and no debt. The company repurchased $631 million of stock during the quarter at an average price of $32.55 per share, bringing year-to-date repurchases to more than $1.3 billion. Its board authorized an additional $1.3 billion for repurchases, leaving $1.7 billion available at quarter-end.
About Chipotle Mexican Grill (NYSE:CMG)Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.
The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Chipotle Mexican Grill Right Now?Before you consider Chipotle Mexican Grill, you'll want to hear this.
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Chipotle zvýšila celoroční výhled růstu tržeb ze srovnatelných prodejen po lepších než očekávaných výsledcích za 2. čtvrtletí. Upravený zisk na akcii činil 33 centů při tržbách 3,35 miliardy USD.
Chipotle Mexican Grill on Wednesday raised its same-store sales growth forecast for the year after topping analysts' quarterly earnings and revenue expectations.
The restaurant company is now projecting that its same-store sales will increase by a low single digit percentage in 2026, higher than its previous outlook of flat same-store sales for the full year.
After a shaky 2025, Chipotle is successfully luring customers back — even with spiking gas prices and other higher costs pressuring dining budgets.
"We're seeing encouraging progress because we're focused on the right growth drivers—bringing meaningful menu innovation to our guests, deepening engagement through Chipotle Rewards, elevating hospitality in every restaurant, and expanding opportunities to serve more group occasions," CEO Scott Boatwright said in a statement.
Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: 33 cents adjusted vs. 32 cents expectedRevenue: $3.35 billion vs. $3.33 billion expected The company's stock climbed about 6% in extended trading.
Chipotle reported second-quarter net income of $403.5 million, or 32 cents per share, down from $436.1 million, or 32 cents per share, a year earlier. Excluding impairment and restructuring costs and other items, the company earned 33 cents per share.
Revenue climbed 9.3% to $3.35 billion.
Same-store sales rose 2.2%, lifted by a 1% increase in traffic to restaurants. Total check size inched up 1.2% compared with the year-ago period.
During the quarter, Chipotle opened 100 new locations and one international restaurant operated by a partner.
Chipotle zveřejní výsledky za 2. čtvrtletí ve středu; hlavní bude vývoj transakcí a marže restaurací. Akcie jsou asi 30 % pod 52týdenním maximem 46,61 USD, zatímco 35 analytiků vidí průměrný cíl zhruba 43 USD, tedy asi 30 % výše.
Chipotle Mexican Grill (CMG +1.22%) reports second-quarter results after the market closes on Wednesday, July 29, with its earnings call set for 4:30 p.m. ET.
At about $33 as of this writing, shares sit about 30% below their 52-week high of $46.61, and about 18% above their 52-week low. Meanwhile, the 35 analysts covering the burrito chain carry an average price target of about $43 -- roughly 30% above the stock.
The market, in other words, is priced as if the growth stock's best days are behind it. But the analysts, on average, don't seem to believe that. Wednesday's report should say a lot about which side has it right, and the answer arguably hinges on two lines deep in the release: transactions and restaurant-level margin.
Image source: The Motley Fool.
The number to watch is transactions For most of 2025, Chipotle's problem was that fewer people came. Comparable restaurant sales fell 4% year over year in the second quarter of 2025, driven by a 4.9% drop in transactions. The fourth quarter was better but still negative, with comparable sales down 2.5% on a 3.2% transaction decline.
For the full year, comparable sales fell 1.7%, with transactions down 2.9%, even as a higher average check offset part of the decline.
The first quarter of 2026 broke the pattern. Comparable sales rose 0.5%, and the growth came from traffic. Transactions increased 0.6%, while the average check slipped 0.1%.
It's a modest number, but I'd argue it's the right kind -- more customers, not just higher prices. CEO Scott Boatwright said the quarter "exceeded expectations" as the company advanced its "Recipe for Growth" strategy.
Worth noting, too: the quarter Chipotle is about to report laps that minus-4% period from a year ago, the softest comparison on the calendar. If transactions can't grow against that bar, the recovery case weakens considerably.
The rest of the growth machine never stopped, either. First-quarter revenue rose 7.4% year over year to $3.1 billion. The company opened 49 restaurants during the period, 42 of them with a Chipotlane drive-through lane, bringing its base to about 4,090 company-owned locations. And digital orders ran at 38.6% of food and beverage revenue.
Full-year guidance calls for 350 to 370 new locations, including 10 to 15 run by international partners. That works out to nearly a new restaurant a day.
What the recovery is costing Traffic is coming back at a price, though. Chipotle's adjusted restaurant-level operating margin (the profitability of the restaurants themselves, before corporate costs) was 23.7% in the first quarter, down from 26.2% a year earlier. Operating margin fell to 12.9% from 16.7%. And non-GAAP (adjusted) earnings per share declined 17.2% year over year to $0.24.
So Wednesday's report has to show two things moving the right way at once. A second consecutive quarter of positive transactions would show the traffic turn is holding. And an adjusted restaurant-level margin near the first quarter's 23.7%, rather than another step down, would show the company isn't simply buying its customers back.
Guidance matters, too. Management's current outlook calls for about flat comparable sales in 2026. Holding that line, or nudging it higher, would say the first quarter wasn't a fluke.
Meanwhile, the valuation bar the stock has to clear is not demanding.
Today's Change
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At about 29 times earnings, Chipotle trades at about the same multiple as the S&P 500, and at about 27 times forward earnings estimates. At its 52-week high, the market paid nearly $47 for this business. It now pays about $33.
Of course, a cheaper-than-usual Chipotle isn't automatically a buy. Restaurant margins are still sliding, and the traffic recovery is, so far, exactly one quarter old. A single quarter could easily prove to be noise.
So, should investors buy ahead of the report? I personally wouldn't. At a market multiple, Chipotle doesn't need a heroic quarter, just confirmation. But with the whole case resting on one quarter of positive traffic, waiting a day for proof seems like a fair trade. If transactions hold positive and the margin stops sliding, I'd get interested, even at a somewhat higher price. If traffic flips negative again, the market's skepticism will have been right, and a better entry point could follow.
Wednesday afternoon, the transaction line is the first number I'll check.
Chipotle v roce 2025 odkoupila akcie za 2,4 mld. USD za průměrných 42,54 USD, zatímco se titul obchoduje kolem 31,79 USD. Před výsledky za 2. čtvrtletí jí zbývá ještě asi 1,7 mld. USD na zpětný odkup.
The bull thesis for Chipotle Mexican Grill (NYSE:CMG | CMG Price Prediction) today is straightforward: management repurchased $2.4B of stock in 2025 at an average price of $42.54. Shares now trade well below that mark at about $31.79, and the company has about $1.7 billion in fresh share repurchase capacity ahead of Q2 earnings results arriving on July 29. The current level marks a notable reset for a business that has historically compounded.
Three Reasons Chipotle Stands Out Right Now The stock is down 30% in the past year. CMG trades at a P/E of 29 against a forward EPS of $1.35, with the stock sitting 30.5% below where it traded a year ago. Over the past decade, shares have still returned 268.92%. The 2026 drawdown reflects multiple compression while unit economics have held.
The path from 4,000 to 7,000 stores. Chipotle ended 2025 with 4,042 company-owned locations and is guiding 350 to 370 new openings for 2026 against a long-term target of 7,000 restaurants in the U.S. and Canada. Full-year 2025 operating cash flow reached $2.114 billion. That funds the build-out without leverage.
Wall Street sees upside. Analyst ratings sit at 26 Buy, 10 Hold, 0 Sell, with a consensus price target of $42.94, implying about 43% upside with the stock trading around $33. Polymarket traders assign a 60.5% probability to a Q2 earnings beat this Wednesday.
Chipotle Offers More Scale Than CAVA and More Growth Than McDonald’s CAVA Group (NYSE:CAVA) is a growth darling in this industry, but CAVA trades at a materially richer earnings multiple against a much smaller footprint. Chipotle offers roughly one-quarter the earnings multiple on nearly nine times the store base and superior cash generation.
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McDonald’s (NYSE:MCD) trades at a lower earnings multiple and offers a dividend yield, but Chipotle’s restaurant growth pace is materially faster. Today, Chipotle offers investors both growth and value.
Weak Traffic Is the Number to Watch on Wednesday Chipotle’s biggest near-term challenge is weak customer traffic, with comparable sales down 2.5% and transactions down 3.2% in Q4. However, restaurant-level margins remain above 23%, the company can fund hundreds of annual openings without taking on debt, and management continues to repurchase shares.
Wednesday’s report will show whether new menu initiatives can stabilize traffic while Chipotle continues expanding toward 7,000 locations. If those trends improve, today’s price could prove attractive relative to management’s own buyback activity and Wall Street’s $42.94 average target.
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Chipotle očekává výsledky za 2. čtvrtletí, zatímco EPS má podle odhadů klesnout z 0,33 USD na 0,32 USD. Pokud zisky znovu klesnou, akcie mohou oslabit.
Chipotle Mexican Grill (NYSE: CMG) has been a top-performing stock throughout its history, but more recently, the company has disappointed investors.
The stock is down more than 50% from its peak a few years ago, as it lost star CEO Brian Niccol, same-store sales growth slowed, and its premium valuation compressed as investors dialed back estimates for its long-term growth.
Chipotle is down 10% year-to-date, as its results have underwhelmed. In the first quarter, comparable sales rose 0.5%. In comparison, margins fell sharply with its operating margin declining from 16.7% to 12.9% due in part to its biennial All Managers Conference and higher labor costs from labor inflation.
So what should investors expect when Chipotle reports second-quarter earnings? Let’s take a closer look.
Image source: Chipotle.
Can Chipotle bounce back?Chipotle’s same-store sales in the first quarter were its best performance in at least five quarters, showing the company’s challenges aren’t new. During that time, average restaurant sales declined each quarter, reaching $3.09 million in the first quarter.
Chipotle has struggled for many of the same reasons as its peers. Inflation has pinched consumers, and the company has seen a fall-off in the most economically sensitive customers, including lower-income customers and young adults. Like other fast-casual chains, Chipotle is dealing with the perception that its prices are too high, and it’s also faced stiffer competition from sit-down casual dining chains like Chili’s.
The war in Iran has pushed inflation higher in the second quarter, meaning Chipotle is unlikely to get any relief from discretionary spending at the macro level.
There are some reasons for Chipotle investors to be optimistic. According to data from Placer.ai, a location intelligence platform that tracks store traffic, Chipotle posted positive same-store traffic in every month of the second quarter, averaging about 1% growth.
The collapse in the stock over the last few years also means it is much more reasonably priced than it once was, trading at a price-to-earnings ratio of about 30, about even with the S&P 500. That’s not a great price for a company struggling to grow on the bottom line, but it also means the stock should be stable unless its sales growth turns meaningfully negative.
The company also relaunched its rewards program, adding perks like monthly free food drops and making it easier to redeem points. Sign-ups spiked when the company announced the program.
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What to expect from the Q2 reportBased on the impact of the new loyalty program and Placer.ai data, I think Chipotle is set for same-store sales growth. However, inflation and the loyalty program are likely to continue to pressure the bottom line, and that is what investors are most judging the company on at this point.
In fact, the analyst consensus calls for earnings per share to edge down from $0.33 to $0.32. Given that, I think investors will have to be patient with a Chipotle comeback. If profits fall again, the stock is likely to sell off. Chipotle remains a show-me story at this point. Management will have to show that it has overcome the challenges of the last few years.
Chipotle otevřelo první restauraci v Mexiku, v San Pedro Garza García u Monterrey, v rámci mezinárodní expanze s partnerem Alsea. Další pobočky plánuje v Nuevo León letos a v Mexico City v roce 2027.
Chipotle Mexican Grill opened its first restaurant in Mexico this month as part of the fast-casual chain’s international growth strategy.
The new location opened on July 16 in San Pedro Garza García, Nuevo León, part of the Monterrey metropolitan area, and is being operated in partnership with restaurant operator Alsea, according to a news release from Chipotle.
“We are entering Mexico with deep respect for the country’s culinary heritage and a commitment to delivering the Chipotle experience with excellence,” Scott Boatwright, CEO of Chipotle, said in a statement.
“Our research has reinforced our belief that there is strong interest in high-quality, freshly prepared food served with the customization and convenience that Chipotle offers.”
Chipotle and Alsea plan to open additional locations in Nuevo León later this year, followed by an expansion into Mexico City in 2027.
The restaurant is the first to open under a development agreement the companies announced in April 2025.
Alsea runs several thousand restaurants from global quick-service, coffee shop and full-service brands in many countries in Latin America and Europe, according to Chipotle.
Chipotle Mexican Grill just opened its first restaurant in Mexico, kicking off a major international expansion. AFP via Getty Images
The new spot in San Pedro Garza García, Nuevo León, is a partnership with restaurant operator Alsea. AFP via Getty Images The new restaurant offers Chipotle’s standard menu of customizable burritos, bowls, tacos, salads and quesadillas. Many ingredients are sourced from regional suppliers, according to the company.
Chipotle said the Monterrey area was selected because of its “strong economy, growing population” and position as a major business hub.
“Bringing Chipotle to Mexico is an important step in our growth and portfolio diversification strategy,” Christian Gurría, CEO of Alsea, said in a statement. “We are introducing an iconic brand with a differentiated value proposition that has resonated with millions of guests around the world, and we are confident it will be warmly welcomed by Mexican consumers.”
Chipotle and Alsea plan more locations in Nuevo León this year, then Mexico City in 2027, expanding its global reach. REUTERS As of March 31, Chipotle operated more than 4,100 restaurants worldwide.
The restaurant chain expects to open between 350 and 370 new locations in 2026. Its international footprint includes restaurants in Canada, Europe and the Middle East, with additional openings planned in South Korea and Singapore.
Chipotle could not immediately be reached by FOX Business for additional comment.
Analytici čekají, že Chipotle oznámí zisk 0,32 USD na akcii, což je meziročně pokles o 3 %. Tržby mají dosáhnout 3,32 miliardy USD, tedy o 8,4 % více než loni.
Analysts on Wall Street project that Chipotle Mexican Grill (CMG - Free Report) will announce quarterly earnings of $0.32 per share in its forthcoming report, representing a decline of 3% year over year. Revenues are projected to reach $3.32 billion, increasing 8.4% from the same quarter last year.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain Chipotle metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Revenue- Food and beverage' to come in at $3.31 billion. The estimate points to a change of +8.7% from the year-ago quarter.
Analysts predict that the 'Revenue- Delivery service' will reach $16.02 million. The estimate suggests a change of +2.5% year over year.
Analysts' assessment points toward 'Company-operated restaurants at end of period' reaching 4,160 . The estimate compares to the year-ago value of 3,839 .
Analysts forecast 'Company-operated restaurants opened' to reach 75 . Compared to the present estimate, the company reported 61 in the same quarter last year.
It is projected by analysts that the 'Company-operated restaurants at beginning of period' will reach 4,090 . Compared to the current estimate, the company reported 3,781 in the same quarter of the previous year.
The average prediction of analysts places 'Average restaurant sales - TTM' at $3.09 million. Compared to the present estimate, the company reported $3.14 million in the same quarter last year.
View all Key Company Metrics for Chipotle here>>>
Chipotle shares have witnessed a change of -0.8% in the past month, in contrast to the Zacks S&P 500 composite's +0.6% move. With a Zacks Rank #3 (Hold), CMG is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Chipotle je 39 % pod 52týdenním maximem a investoři čekají na výsledky za 2. čtvrtletí 29. července. V 1. čtvrtletí vzrostly srovnatelné tržby jen o 0,5 % a provozní marže klesla na 12,9 %.
Chipotle Mexican Grill (CMG -0.50%) stock has trended downward since 2024, and even when measured against its 52-week high, it is down by 39%. The fast-casual giant that became popular for its healthier food has fallen victim to shifting consumer preferences and the economic challenges facing its customers.
Now, investors await July 29, when the company will release its second-quarter results. But is the stock worth buying before the earnings release, or should investors remain on the sidelines until they get the latest numbers?
Image source: The Motley Fool.
The state of Chipotle today Shareholders have had little to celebrate about Chipotle's performance in recent quarters.
In Q1, its comparable-store sales rose by just 0.5%. That's a stark contrast to Q1 2024, when comparable sales grew by 7%. Moreover, its operating margin in Q1 was 12.9%, down from 16.7% one year ago and 16.3% in Q1 2024, just before Chipotle underwent a 50-for-1 stock split.
That split closely coincided with the stock's all-time high. Since then, rising inflation has hammered U.S. consumers. At the same time, Chipotle has faced higher rent, labor, and food costs, squeezing its margins. Such challenges are not unique to Chipotle, but they still have weighed on the company.
Additionally, two years ago, Brian Niccol was its CEO. After he departed for Starbucks in mid-2024, former COO Scott Boatwright took over as CEO. Even though Boatwright previously oversaw many of Niccol's initiatives, he has so far failed to develop an effective turnaround strategy for the chain.
Investors have little reason to expect dramatic improvements in the near term. For the quarter, analysts forecast 8.7% yearly revenue growth. That would be a sequential improvement from its 7.4% in Q1, but well below the 18.2% revenue growth it reported in the second quarter of 2024.
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Nonetheless, the stock price may now better reflect the challenges the company faces. After its sell-off, Chipotle's P/E ratio has fallen to 29, matching the S&P 500's average earnings multiple. Between 2018 and 2025, the company's P/E ratio rarely fell below 50.
Hence, while today's earnings multiple may seem like a bargain compared to past valuations, that lower P/E ratio appears to signal a loss of confidence in Chipotle's ability to recover.
Should investors buy Chipotle stock before July 29? Considering the state of Chipotle's business, investors have no obvious reasons to buy shares before July 29.
Most of its problems do not appear to be unique to the fast casual restaurant chain. Also, a slight improvement in revenue growth could provide a much-needed updraft to the stock price.
Unfortunately, the rapid growth that kept its valuation high and drove its stock price higher in past years has ended, and it is unclear if or when Chipotle could reignite it.
While its P/E ratio has fallen significantly, Chipotle's earnings multiple would have to fall further before one might reasonably call it a value stock. Given that it has neither a low valuation nor an obvious path back to significantly faster revenue growth, this consumer discretionary stock is probably not a buy at this time.
Chipotle Mexican Grill uzavřel o 3,8 % níže, což zaostalo za denním poklesem S&P 500 o 0,19 %. Investoři očekávají výsledky 29. července 2026; EPS má být 0,32 USD a tržby 3,32 miliardy USD.
In the latest trading session, Chipotle Mexican Grill (CMG - Free Report) closed at $33.13, marking a -3.8% move from the previous day. This change lagged the S&P 500's daily loss of 0.19%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Shares of the Mexican food chain witnessed a gain of 6% over the previous month, beating the performance of the Retail-Wholesale sector with its gain of 2.41%, and the S&P 500's gain of 0.55%.
The upcoming earnings release of Chipotle Mexican Grill will be of great interest to investors. The company's earnings report is expected on July 29, 2026. It is anticipated that the company will report an EPS of $0.32, marking a 3.03% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $3.32 billion, indicating a 8.33% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.13 per share and a revenue of $12.92 billion, indicating changes of -3.42% and +8.34%, respectively, from the former year.
Any recent changes to analyst estimates for Chipotle Mexican Grill should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.22% decrease. Chipotle Mexican Grill is currently a Zacks Rank #3 (Hold).
Digging into valuation, Chipotle Mexican Grill currently has a Forward P/E ratio of 30.51. This denotes a premium relative to the industry average Forward P/E of 20.71.
It is also worth noting that CMG currently has a PEG ratio of 2.23. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CMG's industry had an average PEG ratio of 2 as of yesterday's close.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 192, finds itself in the bottom 22% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Chipotle otevřelo první restauraci v Mexiku v San Pedro Garza García ve spolupráci s Alsea. Firma plánuje další pobočky v Nuevo León a vstup do Mexico City v roce 2027.
Chipotle Brings Brand to MexicoChipotle’s first Mexican restaurant opened Thursday, July 16, in San Pedro Garza García, Nuevo León, part of the Monterrey metropolitan area, in partnership with Alsea, a leading restaurant operator in Latin America and Europe. The location is the first to open under a development agreement the two companies announced in April 2025. Chipotle and Alsea plan to open additional restaurants in Nuevo León later this year and expand into Mexico City in 2027.
“We are entering Mexico with deep respect for the country’s culinary heritage and a commitment to delivering the Chipotle experience with excellence,” said Scott Boatwright, CEO of Chipotle. “Nuevo León is an ideal place to begin this journey, and with Alsea’s operational expertise and deep local market knowledge, we look forward to serving new guests and earning a place in Mexico’s vibrant dining culture.”
The Monterrey metropolitan area was selected as Chipotle’s entry point into Mexico due to its strong economy, growing population, and status as one of the country’s leading business and innovation hubs.
South Korea, Singapore Openings AheadThe Mexico entry adds to Chipotle’s growing international footprint, which includes more than 80 locations in Canada, 20 in the U.K., six in France, and two in Germany, alongside restaurants operated through partnerships in the Middle East and planned openings in South Korea and Singapore.
Chipotle currently operates more than 4,100 restaurants worldwide and expects to open between 350 and 370 new locations in 2026 as part of its “Recipe for Growth” strategy.
Analyst Consensus & Recent Actions The stock carries a Buy rating with an average price target of $41.95. Recent analyst moves include:
Citigroup: Buy (Lowers Target to $45.00) (July 13) Mizuho: Outperform (Raises Target to $41.00) (July 13) Chipotle Shares Edge Higher CMG Price Action: At the time of publication, Chipotle shares are trading 1.61% higher at $34.75, according to data from Benzinga Pro.
Image via Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
Chipotle otevře 16. července první restauraci v Mexiku v San Pedro Garza García v Nuevo Leónu ve spolupráci s Alsea. Firma plánuje letos další pobočky v Nuevo Leónu a vstup do Mexico City v roce 2027.
Chipotle and Alsea plan additional openings in Nuevo León this year and expansion into Mexico City in 2027 , /PRNewswire/ -- Chipotle Mexican Grill (NYSE: CMG) today announced that the first Chipotle restaurant in Mexico will open on Thursday, July 16 in San Pedro Garza García, Nuevo León, part of the Monterrey metropolitan area, in partnership with Alsea (BMV: ALSEA*), a leading restaurant operator in Latin America and Europe. The opening marks a significant milestone in Chipotle's international growth strategy and introduces the company's menu of freshly prepared, customizable burritos, bowls, salads, tacos and quesadillas to guests in Mexico.
Chipotle's first restaurant in Mexico is located in San Pedro Garza García, Nuevo León, part of the Monterrey metropolitan area. Opening on July 16, the restaurant marks Chipotle's entry into Mexico in partnership with Alsea and represents a significant milestone in the company's international growth strategy.
The Nuevo León restaurant will serve Chipotle's signature menu prepared fresh throughout the day with wholesome ingredients and without artificial colors, flavors or preservatives. This restaurant is the first location to open under the development agreement Chipotle and Alsea announced in April 2025. Building on this market entry, Chipotle and Alsea plan to open additional restaurants in Nuevo León later this year and expand into Mexico City in 2027.
"We are entering Mexico with deep respect for the country's culinary heritage and a commitment to delivering the Chipotle experience with excellence," said Scott Boatwright, Chief Executive Officer of Chipotle. "Our research has reinforced our belief that there is strong interest in high-quality, freshly prepared food served with the customization and convenience that Chipotle offers. Nuevo León is an ideal place to begin this journey, and with Alsea's operational expertise and deep local market knowledge, we look forward to serving new guests and earning a place in Mexico's vibrant dining culture."
"We've spent years evaluating opportunities to bring Chipotle to Mexico, and this week's opening reinforces our confidence in the market," said Nate Lawton, Chief Business Development Officer of Chipotle. "Our initial focus is on opening one great restaurant and learning alongside our guests and our partners at Alsea. This first location will serve as an important proof-of-concept, giving us the opportunity to better understand local consumer preferences as we thoughtfully grow in Mexico."
The new restaurant features Chipotle's signature menu prepared fresh throughout the day with the same chef-led standards and classic cooking techniques that have shaped the brand since its founding. The company sources many of its ingredients from suppliers throughout the region and remains committed to serving real food made with wholesome ingredients and without artificial colors, flavors, or preservatives.
The Monterrey metropolitan area was selected as Chipotle's first location in Mexico due to its strong economy, growing population, and status as one of the country's leading business and innovation hubs. The restaurant represents the first step in Chipotle and Alsea's broader expansion strategy as the companies evaluate opportunities across Mexico's largest metropolitan markets.
"Bringing Chipotle to Mexico is an important step in our growth and portfolio diversification strategy. We are introducing an iconic brand with a differentiated value proposition that has resonated with millions of guests around the world, and we are confident it will be warmly welcomed by Mexican consumers. This week's opening reflects our confidence in Mexico's growth potential and our commitment to continuing to drive investment, job creation, and economic development in the communities where we operate," said Christian Gurría, Chief Executive Officer of Alsea.
Chipotle's Growing International Footprint
Chipotle signed its first international development agreement in July 2023 with Alshaya Group to open restaurants in the Middle East. Alshaya Group currently operates 15 restaurants across the UAE, Kuwait and Qatar. In September 2025, Chipotle announced a joint venture with SPC Group, a leading South Korean food and bakery company, to expand the brand into Asia for the first time, with plans to open its first restaurant in South Korea later this year and in Singapore early next year.
Chipotle's existing international portfolio of owned and operated restaurants includes more than 80 locations in Canada, 20 in the U.K., six in France, and two in Germany. The company currently operates more than 4,100 restaurants worldwide and expects to open between 350 and 370 new restaurants in 2026 as it continues to execute its "Recipe for Growth" strategy, including a target of operating 7,000 locations in the U.S. and Canada.
Chipotle's business development group, led by Chief Business Development Officer Nate Lawton, continues to evaluate strategic opportunities to accelerate the company's global growth through partnerships, joint ventures, and development agreements. Information on submitting a proposal can be found at https://ir.chipotle.com/contact-us.
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. There are over 4,100 restaurants as of March 31, 2026, in the United States, Canada, the United Kingdom, France, Germany and the Middle East and it is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe. With over 135,000 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 chipotle.com.
About Alsea
Alsea is the leading restaurant operator in Latin America and Europe of global brands in the quick service, coffee shop and fast casual dining segments. It has a diversified portfolio, with brands such as Domino's Pizza, Starbucks, Burger King, Chili's, P.F. Chang's, Italianni's, The Cheesecake Factory, Vips, Archies, Foster's Hollywood, Gino's and Chipotle. The company operates more than 4,800 units in Mexico, Spain, Argentina, Chile, Colombia, France, Portugal, Netherlands, Belgium, Luxembourg, Uruguay and Paraguay. Alsea's business model includes support for its brands through a Shared Services Center that provides all the Administrative and Development Processes, as well as the Supply Chain.
For more information please visit: www.alsea.net
*Alsea shares are traded on the Mexican Stock Exchange under the ticker symbol ALSEA
Forward-Looking Statements
Certain statements in this press release are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements about the timing of opening the first and additional future Chipotle restaurants in Mexico, Chipotle's prospects for business in Mexico, the Middle East and Asia, Chipotle's plans to open between 350 and 370 new restaurants in 2026, and its "Recipe for Growth," including its target of operating 7,000 locations in the U.S. and Canada. We use words such as "anticipate," "expect," "believe," "could," "should," "may," "are confident" and similar terms and phrases to identify forward-looking statements. The forward-looking statements in this press release are based on currently available operating, financial and competitive information, available to us as of the date of this release and we assume no obligation to update these forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements, including the risks described from time to time in our SEC reports, including our annual report on Form 10-K and quarterly reports on Form 10-Q, all of which are available on the investor relations page of our website at ir.chipotle.com.
UBS čeká, že Chipotle ve 2. čtvrtletí vykáže růst tržeb ve stejných prodejnách o 1,2 % a ve druhé polovině roku zrychlí díky cenám, novinkám v menu a provozním zlepšením.
Chipotle Mexican Grill Inc (NYSE:CMG) is expected to report second quarter same-store sales roughly in line with Wall Street expectations, while momentum could improve in the second half of 2026 as pricing actions, menu innovation and operational initiatives begin to offset ongoing macroeconomic pressures, according to a preview note from UBS.
Ahead of Chipotle's July 29 earnings report, UBS said it expects second-quarter same-store sales growth of 1.2%, close to the consensus estimate of 1.3%.
The firm expects sales trends to have accelerated from the first quarter, supported by menu innovations including Cilantro Lime Sauce and Chipotle Honey Chicken, marketing initiatives such as the Summer of Extras campaign, and a potential boost from the FIFA World Cup.
The analysts said investor focus will likely be on third-quarter sales trends, upcoming limited-time offers, marketing initiatives, catering expansion, operational improvements and efforts to strengthen the company's value proposition.
While UBS expects macroeconomic headwinds to persist, particularly among consumers earning less than $100,000 annually, younger consumers and Hispanic consumers, it believes Chipotle is positioned for stronger same-store sales and transaction growth in the second half of the year.
The firm cited additional limited-time menu offerings, an enhanced marketing strategy, digital initiatives, the April relaunch of Chipotle Rewards and broader catering rollout expected by the fourth quarter as potential growth drivers. UBS also noted the company's high-efficiency equipment package could generate meaningful improvements in comparable sales through operational gains.
UBS expects Chipotle's pricing strategy to remain effective, with full-year pricing likely to finish toward the upper end of the company's 1% to 2% target range. The firm forecasts 2026 same-store sales growth of 1.4%.
On profitability, UBS models second-quarter restaurant-level margins of 25%, down about 230 basis points from a year earlier due primarily to higher beef, dairy and avocado costs. However, it expects margins to improve during the second half of 2026 as food inflation eases and pricing actions increasingly offset cost pressures.
UBS forecasts second-quarter earnings per share of $0.32 and full-year 2026 earnings per share of $1.15.
The firm maintained a $45 price target, saying a return to stronger transaction and sales momentum could provide upside for the shares. This implies upside from current levels of about $35.
Chipotle Mexican Grill (CMG 1.62%) issued a 50-for-1 split on June 26, 2024, making its then roughly $3,000 share price more affordable. But that almost marked the peak. The stock is currently down 53% from its all-time high.
It wasn't the split, but rather weakening sales performance in the business itself that followed the departure of former CEO Brian Niccol. Here are three reasons Chipotle has fallen from its pedestal.
Image source: The Motley Fool.
1. Slowing revenue growth Since 2024, Chipotle's revenue growth has declined amid inflationary costs and weak comparable sales. When the company issued its stock split, revenue was up 18% year over year in Q2 2024. Comp sales grew 11%, with transaction growth up 8.7%.
In May 2025, there was a noticeable slowdown in underlying business trends amid weakening consumer sentiment. For the full year, revenue grew just 5% over 2024, with comp sales declining by 1.7%.
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2. Higher costs pressured margins As sales weakened, Chipotle faced higher costs for rent, labor, and food ingredients. As a result, restaurant-level margin fell from 26.7% in 2024 to 25.4% in 2025. The company is still struggling to offset higher costs, with restaurant-level margins down to 23.7% in the first quarter of 2026.
Chipotle might have compounded this problem by lowering prices for some items. It prioritized keeping traffic up at the expense of its bottom line. Quarterly earnings peaked at $0.33 in Q2 2024. In Q1 2026, the company reported a 17% year-over-year decrease in earnings, falling to $0.23.
3. Uncertainty from leadership change Niccol took the CEO job at Starbucks in September 2024. While Chipotle's weakening performance is most correlated with the broader weakness in consumer spending, a change in CEO always creates uncertainty about the future, which can impact a company's valuation.
There's a reason Starbucks chose Niccol to lead its turnaround. Niccol proved to be a superb business operator at Chipotle. Under his leadership from 2018 through the third quarter of 2024, Chipotle more than doubled its revenue and doubled its operating profit margin. From the end of 2014 through Q3 2024, the stock returned 567%.
After the recent collapse, Chipotle stock is now trading at its lowest price-to-earnings ratio in years. It could be a great time to buy, but time will tell whether the new CEO, Scott Boatwright, is as successful as Niccol. The latest results showed improvement in top-line growth. Revenue grew 7.4% year over year, with comp sales up 0.5%.
Still, until costs get under control and earnings improve, the stock will likely remain discounted. Investors should watch for signs that food inflation is waning, as that would mark a catalyst for stronger margins and earnings.
