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Chipotle is sky high. Sales increased by 10% in the previous quarter



The company said that sales in stores that have opened at least 13 months grew by 10% in the second quarter. During that time, revenue increased 13.2% to $ 1.4 billion.

The second quarter, which ended June 30, marks the sixth-straight quarter of comparable store growth, the calculation used for stores open for at least 13 months.

Chipotle's stock rose about 4% after the clock in response to the report. When Chipotle, after being injured by E. coli health fears, has regained both trust in customers and investors.
Earlier this month, shares of Chipotle ( CMG ) hit a new all-time high for the first time since August 201
5 – before E. Coli sick-sick customers.
Chipotle CEO Brian Niccol has helped with the right ship. Under Niccol, which took over in 2018, Chipotle has added new salad bowls to accommodate consumers in paleo and ketogenic diets, and has also introduced several menu options for vegetarians and vegans. It has also expanded its rewards program across the country, and sales through digital channels have increased. During the second quarter, digital sales increased by 99.1% and accounted for 18.2% of all purchases.

The rewards program "exceeded our expectations with over 5 million subscribers," said Niccol on a conversation with analysts on Wall Street on Tuesday.

Customers both use more because of price increases on the menu and visiting stores more often, the company noted. During the quarter, Chipotle also added 19 new new stores. Altogether, it has just over 2,500 locations.

Chipotle is sure that success will last. The company raised its guidance from mid- to high-season comparable sales growth to high-single-digit growth.


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