Chipotle Mexican Grill’s (NYSE: CMG) shares were up 1.8% in mid-day trade on Thursday after the company announced menu changes that have sparked optimism among analysts about growth in the coming year.
Chipotle said it would roll out a Supergreens salad mix this week which would comprise of hand-cut romaine along with baby kale and baby spinach, replacing the romaine-only salad base. The company also made its grilled, Adobo chicken Whole30 compliant by switching the oil in its marinade.
Chipotle’s Lifestyle Bowls had helped digital sales growth hit
the $1 billion milestone recently. The company is innovating and expanding its
Lifestyle Bowls and offering free delivery for the whole of January. This
strategy is aimed at customers with health-related New Year resolutions and
helps stick to various dietary choices such as vegetarian, vegan, keto and
paleo.
Last month, Chipotle announced that it is testing a new
restaurant design to better support its billion-dollar digital business and
that the design will be trialed in four new restaurants.
Chipotle beat revenue and profits estimates in its most
recent quarter, recording double-digit growth in both the top and bottom line
numbers. The company will report its fourth quarter results on February 4, 2020.
Chipotle’s shares have gained 93% in the past one year.