People are eating Chipotle again. What happens when it starts playing offense?
Also: The forces behind Snapchat’s user growth.
Chipotle is back — and executing one of the best consumer turnarounds in recent memory.
On the brink of getting kicked out of civil society just a few years ago for a series of food safety meltdowns, Chipotle Mexican Grill is growing again — thanks in large part to new digital efforts — under new CEO Brian Niccol, who joined last year from Taco Bell. And its stock is up more than 70% this year to all-time highs.
Yesterday, Chipotle reported that second-quarter revenue grew 13% to $1.4 billion. Sales at Chipotle stores open for more than 13 months grew 10% year over year, while the broader US restaurant industry was flat.
The biggest and most important thing is that people are trusting Chipotle again.
Hi, I’m Dan Frommer and this is The New Consumer, a publication about how and why people spend their time and money.
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