Chipotle's potential new menu items include carne asada
Good news for sparse Chipotle fans; KFC expansion in China
Fox Business Briefs: Chipotle Mexican Grill expands its reward program as the digital platform continues to grow; Yum China is collaborating with two of the largest Chinese state oil companies to open franchise fast food restaurants at gas stations in the country, a plan likely to open over 100 KFCs over the next three years.
Chipotle potentially adds new menu items that go beyond their signature burritos and burrito bowls.
Company CEO Brian Niccol teased some potential new menu items on Tuesday during a second-quarter revenue that surpassed Wall Street's expectations. [1[ads1]9659004] “On the menu page, we lift our core by developing innovations that lead to food culture and cater to guests' requests. Lifestyle bowls are still popular with customers, and we continue to test new menu items that are in different stages of development, "said Niccol on the conversation.
The element furthest in the test phase is Carne Asada, which differs from the current steak option on menu because it is thinly sliced instead of cubes. Niccol said the chain is about to launch the item at restaurants across the country.
"[Carne asada] is easy to perform operationally as a unique taste profile and receives wonderful customer feedback in our test markets, "said Niccol.
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Another thing that is still in the testing phase is quesadillas – and it may take some time for customers to see it on all menus. Niccol said that The quesadilla, which is tested in selected places, is made with new ovens that improve the quality and taste of the food. The updated appliance also gives Chipotle the potential to add other food options such as desserts and nachos.
"That said, we still have some work to do to streamline our workflow," said the CEO of Tuesday, adding that the company will not sacrifice turnout for a nationwide roll-out of new goods.
It is unclear how the goods will affect the food costs if they are added to the menu in the future. Chipotle said the second quarter food costs rose to 33.7 percent, mainly due to higher avocado prices. Niccol said that the Mexican eatery expected a price increase in avocados in March, but saw a new peak in June.
to another market, "said Niccol.
| Ticker | Security | Last | Change | % Chg |
|---|---|---|---|---|
| CMG | CHIPOTLE MEXICAN GRILL INC. | 780.20 [19659020] +40.60 | + 5.49% |
Chipotle's stock hit a high time on Tuesday after reporting revenue in the second quarter of $ 91 million – surpassing Wall Street expectations, the company reported revenue of $ 1.43 billion dollar, a growth of 13 percent compared to last year.
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The chain's successful quarter indicated that it is on its way to recovery after weathering food safety issues after norovirus outbreaks on more US locations.
