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.
Source Fool.com