Executive Briefing
People are eating Chipotle again. What happens when it starts playing offense?
Also: The forces behind Snapchat’s user growth.
By Dan Frommer on Wednesday, July 24, 2019 at 7:00 pm
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.
Why?
The biggest and most important thing is that people are trusting Chipotle again.
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