3. How are those expansion plans coming along?
Last but not least, I was looking for updates to shed light on the progress of the company’s expansion plans.
Sure enough, Chipotle Mexican Grill, Inc. (NYSE:CMG) opened 44 new restaurants during the quarter, bringing its total number of new locations this year to 92, while keeping it on track to reach the high end of its full-year restaurant openings guidance for between 165 and 180 units. As of the end of June, Chipotle now operates a total of 1,502 locations.
Unfortunately, the release didn’t provide any additional color on the total growth potential for Chipotle’s new Shophouse Southeast Asian Kitchen concept restaurants, but investors can at least take solace in knowing the performance of the few existing Shophouse locations has been strong enough to merit the recent signing of new lease deals last month aimed at developing four more locations.
All in all, Chipotle Mexican Grill, Inc. (NYSE:CMG) shareholders should be happy that their company just wrapped up another solid quarter, and it’s safe to say their company remains well positioned for significant profitable growth for the foreseeable future.
The article 3 Answers From Chipotle Mexican Grill originally appeared on Fool.com.
Fool contributor Steve Symington has no position in any stocks mentioned. The Motley Fool recommends Chipotle Mexican Grill and Panera Bread. The Motley Fool owns shares of Chipotle Mexican Grill and Panera Bread.
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