Chipotle’s Turnaround Gains Momentum as CEO Plots New Course
- Chain’s same-store sales beat estimates in the second quarter
- New chief Niccol applies the lessons he learned at Taco Bell
Photographer: Patrick T. Fallon/Bloomberg
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Chipotle Mexican Grill Inc. is demonstrating that its recent momentum may be more than a blip.
The restaurant chain posted same-store sales that beat estimates in the second quarter, as new Chief Executive Officer Brian Niccol starts to apply the lessons he learned at his former employer, Taco Bell. Chipotle also said margins improved at its restaurants and boosted the high end of its comparable sales forecast for the year, sending shares higher in late trading.