Chipotle Mexican Grill Inc Stock Price, News & Analysis

Chipotle Mexican Grill (NYSE: CMG) has announced the return of Smoked Brisket to its menu in the U.S. and Canada for a time. This popular item, first introduced three years ago, has been highly requested by fans on social media. The brisket is made with Responsibly Raised® beef, seasoned with spices including smoked serrano and chipotle chili peppers, seared on the plancha, and finished with a savory brisket sauce.

To celebrate the return, Chipotle is offering a $0 delivery fee on all Smoked Brisket orders placed through their app or website from September 12 to September 29, 2024. The promotion is available for orders between $10-$200 USD ($12-$200 CAD) and includes at least one entrée with Smoked Brisket.

Chipotle Mexican Grill (NYSE: CMG) has announced it will host a conference call on October 29, 2024, at 4:30 PM Eastern time to discuss its third quarter 2024 financial results and provide a business update for the fourth quarter to date. The company will issue a press release with the financial results at approximately 4:10 PM Eastern time on the same day.

Participants can join the conference call by dialing 1-888-317-6003 (US) or 1-412-317-6061 (international) and entering the code 0106477. The call will also be webcast live on Chipotle's investor relations website, with registration available at a provided link. An archived webcast will be accessible about an hour after the call ends.

Chipotle Mexican Grill (NYSE: CMG) has partnered with Spirit Halloween to launch its first-ever costume collection inspired by popular memes. The collection features five bodysuits: Chipotle Fork, Napkin, Water Cup, Burrito, and To-Go Bag. Available from September 6, these costumes will be sold exclusively on SpiritHalloween.com and at select Spirit Halloween retail locations for $39.99 each.

This collaboration stems from Chipotle's previous social media engagement with Halloween costume memes, which garnered over 700,000 fan interactions. The collection also ties into Chipotle's popular Halloween tradition, Boorito. Chris Brandt, Chipotle's Chief Brand Officer, hinted at an upcoming 'scarily great offer' for fans next month.

Chipotle Mexican Grill (NYSE: CMG) has announced a groundbreaking partnership with The Ohio State University for the 2024-25 school year. Approximately 1,000 scholarship and walk-on student athletes will receive a customized Chipotle card granting them one free entrée per week for 15 weeks during their respective athletic seasons.

The company has also launched a new ad titled "THE" featuring star football players and narrated by Buckeye legend Archie Griffin. Additionally, Chipotle's nonprofit, The Chipotle Cultivate Foundation, will introduce a full four-year scholarship for an in-state student attending OSU's College of Food, Agricultural, and Environmental Sciences.

This partnership aims to support all student athletes at OSU, not just star performers, with real food and fresh ingredients as part of Chipotle's Real Food for Real Athletes platform.

Chipotle Mexican Grill (NYSE: CMG) has announced accelerated executive appointments effective October 1, 2024. Adam Rymer, a 15-year company veteran, will become Chief Financial Officer, reporting to Interim CEO Scott Boatwright. Jamie McConnell, with the company since 2018, will assume the role of Chief Accounting and Administrative Officer, reporting to Rymer. Former CFO Jack Hartung will transition to President and Chief Strategy Officer, supporting the Interim CEO indefinitely.

These changes aim to ensure continuity during a transitional period. Chipotle's Board has implemented retention plans for the entire executive leadership team. Excluding one officer hired in 2023 and Hartung's 25-year tenure, the executive team's average tenure is approximately seven years.

Chipotle Mexican Grill (NYSE: CMG) is testing Chipotle Honey Chicken in 80 restaurants across Nashville and Sacramento. This new, -time protein combines spicy chipotle peppers with sweet honey, offering a unique flavor profile. The innovation achieved the highest marks in consumer taste tests among Chipotle's chicken innovations.

Following the success of previous chicken menu items like Chicken al Pastor and Pollo Asado, Chipotle continues to focus on menu innovation. The company aims to introduce two to three new menu items annually, using a stage-gate process to gather feedback before national launches. This strategy aligns with Chipotle's goal of delivering craveability, variety, and value to its customers.

Chipotle Mexican Grill (NYSE: CMG) is relaunching its popular Chipotle IQ trivia game for the fifth year. From August 20-22, 2024, Chipotle Rewards members in the U.S. and Canada can play daily for a chance to win BUY-ONE-GET-ONE (BOGO) offers and free burritos. The game will offer 5,000 BOGO codes per hour to players who score 10/10 on the quiz, which covers topics like ingredients, food standards, and brand history.

Players who achieve a perfect score can also unlock an extra credit question for a chance to win one of 50 free burritos for a year prizes. New this year, participants scoring 7-9 out of 10 will receive 25 rewards points. The game has seen four million plays since its introduction, highlighting its popularity among Chipotle fans.

Chipotle Mexican Grill (NYSE: CMG) announced that CEO Brian Niccol will be leaving the company on August 31, 2024, to join Starbucks as Chairman and CEO. Scott Boatwright, the current COO, has been appointed as Interim CEO. Boatwright, who joined Chipotle in 2017, has been important in driving restaurant operations and implementing new technologies.

Jack Hartung, who recently announced his retirement, will remain with the company indefinitely as President of Strategy, Finance and Supply Chain to ensure a smooth transition. Scott Maw, Chipotle's Lead Independent Director, has been named Chairman of the Board. The company emphasized its robust talent planning process and expressed confidence in its leadership team to continue executing the strategic plan without interruption.

Chipotle Mexican Grill (NYSE: CMG) has partnered with Wonderskin to launch 'Lipotle,' a -edition green Wonder Blading Peel and Reveal Lip Stain Kit, celebrating National Avocado Day. Available from July 30, 2024, the guac-proof lip stain unveils a nude-pink color after application. The collaboration marks Wonderskin's first major brand partnership, aligning with Chipotle's mission to Cultivate a Better World.

On National Avocado Day (July 31), Chipotle fans can receive a free digital guac offer using promo code AVO2024. The company expects to use approximately 129.5 million pounds of avocados across its restaurants in the U.S., Canada, and Europe this year. The 'Lipotle' Wonder Blading Lip Stain Kit retails for $29 USD, $40 CAD, and £28, with free shipping available in the U.S.