Chipotle’s Back: 2,500 Stores and Growing

SoCal life is agreeing with the Chipotle. Last week was a big one at the company’s new Newport Beach HQ, which replaced Denver as the epicenter of the burrito-fueled turnaround that’s underway.

On Wednesday, the company released its fiscal 2018 earnings report featuring record revenue and comp sales up 4.0%. The nearly $4.9B the company brought in surpassed 2015’s $4.5B, the high-water mark before food-safety issues wreaked havoc on the company’s sales.

That news was followed up by Friday’s announcement that the company opened its 2,500^th restaurant in Concord, CA. Following a year in which 50 or so strategic store closures limited the company’s net unit increase to 83, Chipotle is ramping up building plans, with approximately 150 new stores in the queue for 2019.

For more on the Chipotle turnaround, you can check out the story we did last summer detailing the energy and plans that underpin much of last year’s growth. And keep an eye out early next month for the first piece in a new series that we’re putting together to profile key individuals and teams within high-growth retail and foodservice companies. In March, we’ll take a look at the personnel behind Chipotle’s 2019 expansion.