Chipotle Mexican Grill Stock Actually Gained 6% in the Second Half of 2022. Is the Worst Over?
Shares of restaurant chain Chipotle Mexican Grill (NYSE: CMG) gained 6% in the second half of 2022, according to data provided by S&P Global Market Intelligence. Chipotle has been demonstrating resilience in the face of a tough economy and has tons of opportunity ahead.
Chipotle Mexican Grill has weathered the pandemic with little negative impact but has seen enormous growth in its digital orders. It's now emerging with consistent double-digit sales growth and doubling down on its efforts to increase store count.
In the 2022 third quarter, the trend continued with a 13.7% increase in net sales. Chipotle also opened 43 restaurants in the quarter, including 38 that were built with Chipotlanes, the company's name for its drive-thrus. This has been an important development because many chain restaurants have evolved from in-store dining experiences to digital orders and deliveries. Having the Chipotlane increases store efficiency and drives profits.
Source Fool.com
