Another Day, Another Failed 2nd Restaurant Chain for Chipotle [Yahoo! Finance]
Chipotle Mexican Grill, Inc. (CMG)
Last chipotle mexican grill, inc. earnings: 4/21 04:10 pm
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Source: Yahoo! Finance
And to be sure, it was a great quarter. But the quarterly financial report overshadowed an update regarding a new restaurant chain the company was cooking up: Chipotle is abandoning the Farmesa concept that it launched last year. Farmesa isn't the first failed restaurant concept from Chipotle. It follows a growing list of previous attempts. Here's why it (kind of) matters for investors. Another failed attempt for Chipotle In February 2023, Chipotle announced a new restaurant chain called Farmesa, offering customizable bowls, not unlike Sweetgreen . However, Restaurant Business reports that Farmesa is now closed. And to investors, CEO Brian Niccol recently said, "It's not part of our growth strategy right now." It's not like Chipotle is hurting without Farmesa. The company's revenue and earnings per share (EPS) in the first quarter were at all-time highs. This has sent its stock to an all-time high as well. However, it's more than just the headline numbers. Chipotle's restaur
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CMG
Earnings
- 4/24/24 - Beat
CMG
Sec Filings
- 5/3/24 - Form DEFA14A
- 5/1/24 - Form PX14A6G
- 4/29/24 - Form 4
- CMG's page on the SEC website