Chipotle Beats Revenue Estimates with $2.52 Billion in Fourth-Quarter Sales

Benzinga 2024-02-07

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Chipotle reported fourth-quarter revenue of $2.52 billion, beating estimates, with a 7.4% increase in foot traffic, unlike declines at McDonald's and Starbucks. CEO Brian Niccol attributed the success to quality food and fast service while maintaining prices through inflation. Niccol told Cramer that based on its performance, Chipotle believes it can double its restaurant count to 7,000 locations long term. The company has been able to offset inflation through a menu price hike in October after a year without increases.

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