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Chipotle Mexican Grill has appointed Scott Boatwright as its permanent CEO, following Brian Niccol's departure to Starbucks. Boatwright, who joined Chipotle in 2017 and previously worked at Arby’s for 18 years, aims to transform the chain into a "global lifestyle brand" and expand to 7,000 locations in North America. His leadership comes during a challenging time for the restaurant industry, with efforts focused on improving operations and customer satisfaction.
Chipotle Mexican Grill reported mixed quarterly results, with shares dropping 7% after same-store sales growth fell short of expectations. The company posted a net income of $378.4 million, or 28 cents per share, while revenue reached $2.79 billion, below the anticipated $2.82 billion. Despite a 6% rise in same-store sales and a 3.3% increase in restaurant traffic, food costs rose due to larger portion sizes following customer feedback. Chipotle plans to open 285 to 315 new locations this year, with a focus on restaurants featuring a "Chipotlane" for online order pickups.
Scott Boatwright
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chipotle names scott boatwright as permanent ceo amid leadership changes
United States Dollar
Starbucks Corporation
Arby’s Restaurant Group
Chipotle Mexican Grill, Inc.
USA
Sharon Zackfia
Scott Boatwright
Adam Rymer
Jack Hartung
Brian Niccol
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19:13 11.11.2024
chipotle shares drop as same-store sales growth falls short of expectations
United States Dollar
Starbucks Corporation
Chipotle Mexican Grill, Inc.
USA
Scott Boatwright
Brian Niccol
20:39 29.10.2024
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