Chipotle Gets Tastier With Carne Asada Launch
Since joining Chipotle Mexican Grill (NYSE: CMG) in early 2018, CEO Brian Niccol has made menu innovation and more aggressive marketing the centerpieces of his turnaround plan for the fast-casual chain. The results have been impressive so far. Chipotle's comp sales growth has accelerated dramatically during Niccol's tenure, culminating in a 10% year-over-year increase in the first half of 2019.
That said, Chipotle's average sales per restaurant and earnings remain well below 2014-2015 peak levels. On the flip side, menu changes haven't had much of a chance to boost Chipotle's results thus far, because of Niccol's (wise) insistence on thoroughly testing potential new menu items before launching them.
Chipotle's sales growth has accelerated over the last several quarters. Image source: Chipotle Mexican Grill.
Source Fool.com
