A hen burrito, guacamole, bag of tortilla chips, and a drink at a Chipotle Mexican Grill Inc. restaurant in El Segundo, California.Patrick T. Fallo
A hen burrito, guacamole, bag of tortilla chips, and a drink at a Chipotle Mexican Grill Inc. restaurant in El Segundo, California.
Patrick T. Fallon | Bloomberg | Getty Pictures
Chipotle Mexican Grill stated Tuesday that it is planning to speed up its Canadian growth over the following 12 months.
Whereas the corporate has eating places in 4 international locations exterior the US, it is taken longer than its friends to construct up its worldwide presence, and its footprint solely spans two continents. As a substitute, it has centered on rising its U.S. enterprise by including new menu gadgets and constructing places with “Chipotlanes,” drive-thru lanes for digital order pickup. Worldwide, the corporate has greater than 2,750 places.
The burrito chain will add eight new eating places, together with one with a Chipotlane. On March 30, Chipotle will open its first Canadian restaurant since 2018 in Surrey, British Columbia. The corporate at the moment operates 23 Canadian eating places, most of that are concentrated in and round Vancouver and Toronto.
“We will likely be experimenting with totally different location codecs and restaurant designs all through the nation to gauge client preferences within the numerous markets,” CFO Jack Hartung stated in a press release.
Shares of Chipotle have risen 4% to date in 2021, giving it a market worth of $40.6 billion.