"The report, released on Tuesday, February 3, showed a 2.5% decrease in comparable restaurant sales from quarter-three and a 1.7% drop year-over-year. However, it appears Chipotle has a plan to fix all that: more limited-time offerings. Yes, the company's secret weapon of choice is to bump up its number of fresh menu options. This shift will include four limited-time offers throughout the year, Chipotle CEO Scott Boatwright said in an earnings call. He described the move as an increase in Chipotle's "menu innovation cadence.""
"The limited-time offers (or LTOs) will start next week with the return of Chicken al Pastor, which Boatwright called "the most celebrated limited-time offer in history, with two times the requests on social media to bring it back compared to any other LTO." Boatwright adds that Chipotle's data shows a "core guest is more likely to choose a restaurant that has a new menu item." Protein, rewards, and of course AI"
Shares of Chipotle Mexican Grill fell over 6% in premarket trading after relatively weak fourth-quarter results. Comparable restaurant sales declined 2.5% from the prior quarter and 1.7% year-over-year. The company will increase its menu innovation cadence to four limited-time offers annually, beginning with the return of Chicken al Pastor next week. The return of Chicken al Pastor previously generated twice the social-media requests of any other LTO. Company data indicates core guests are more likely to choose restaurants with new menu items. Chipotle also launched a high-protein line, including a $3.50 taco with 15 grams of protein and an 80-gram double-protein bowl.
Read at Fast Company
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