Our adjusted net income, adjusted diluted earnings per share, adjusted general and administrative expenses, adjusted effective income tax rate and restaurant level operating margin measures may not be comparable to other companies' adjusted measures. CHIPOTLE MEXICAN GRILL, INC.RECONCILIATION OF NON-GAAP FINANCIAL MEASURES. Chipotle now has a plan to add dessert options to its menu. Whatever Chipotle is currently doing is clearly working as a recent earnings call reported a 26% spike in revenue between 2020 and 2021. The repurchase authorization may be modified, suspended, or discontinued at any time. (5) Charges relate to estimated settlements for distinct legal matters that exceeded or are expected to exceed typical costs for these types of legal proceedings. This was partially offset by a net reduction in tax expense mostly related to the write-off of uncertain tax position reserves and more equity vesting and exercises in the fourth quarter of 2021. Chipotle Coupons and Promo Codes for March. Cookies are used to support and manage your interactions with our website and process your order. Chipotle will host a conference call to discuss first quarter 2021 financial results on Wednesday, April 21, 2021, at 4:30 PM Eastern time . All entries must be received by the end of the Sweepstakes Period in order to participate. NEWPORT BEACH, Calif., April 22, 2022 /PRNewswire/ -- Chipotle Mexican Grill (NYSE: CMG) today published its 2021 Sustainability Report Update, which showcases its efforts across People, Food. Mostly reusable and recyclable packaging. More information will be available in our Quarterly Report on Form 10-Q, which will be filed with the SEC by the end of April. Hence the addition of a new plant-based "rice" that's been trending in healthy eating for several years. These decreases were partially offset by costs associated with cauliflower rice and fewer sales of high margin beverages. Until 03/06/2023. Had to wait another 15 for them to cook steak since it wasn't even started yet. recommending (among other things) drive-thru lanes and a breakfast menu, flopped after being introduced regionally in 2017. TELL ME BEST connects users to the best things in life by delivering product information, reviews, and news. 15 Ideas for Fun Easter Food - 15 plus ideas for making cute foods your kids will love. All details and other restrictions of the prize not specified in these Official Rules will be determined by Sponsor in its sole discretion. With nearly 100,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Top the chicken with the olive oil, salt, pepper, lime zest, and lime juice. The chain's Cauliflower Rice is made with freshly grilled, riced cauliflower and finished with cilantro, lime, and salt, which makes it anything but bland. Because of the care and quality of its food, Chipotle menu prices are usually more expensive than most other fast-food restaurants. (1) Transformation expenses include duplicate rent expense for office and restaurant closures announced in June 2018 due to the corporate restructuring and underperformance of $1,249 and $5,116 for the three months and year ended December 31, 2021, respectively, and employee related restructuring costs of $54 and $449 for the three months and year ended December 31, 2021, respectively. Restaurant level operating margin was 22.3%, an increase from 17.6% in the first quarter of 2020. Not to mention 4 kinds of salsa, queso, guacamole, and sour cream. While the Chipotle representative was unable to share more information about which dessert projects are being pursued and/or prioritized, I hold out hope for an iconic Mexican dessert to join the Chipotle lineup sooner rather than later. Hopefully the test run of the Mexican Chocolate Shake didnt result in constantly broken equipment, like the McDonalds McFlurry, or well never get to experience it. The increase was due primarily to elevated inflation on beef and freight, and to a lesser extent, avocado costs that more than offset the leverage from menu price increases. For more information or to place an order online, visit WWW.CHIPOTLE.COM. 1.) The GAAP effective income tax rate was 20.3% in the fourth quarter of 2021, compared to negative 62.2% in the fourth quarter of 2020. GAAP and non-GAAP general and administrative expenses for the fourth quarter of 2021 also include $99.9 million of underlying general and administrative expenses,$29.7 millionof non-cash stock compensation,$1.8 million related to higher bonus accruals as well as payroll taxes on equity vesting and stock option exercises, and $1.4 million related to the upcoming all-manager conference. Even without dessert or other new add-ons, Chipotle's sales are growing. 2,193 Sq. Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. We believe several new menu items, effective marketing, and on-going strength in digital sales, as well as a tailwind from government stimulus payments to consumers contributed to first quarter revenue growth. (4) Other adjustments consist of consulting fees associated with the calculation of our non-recurring tax benefit. delivery MPI" represents average restaurant sales, as defined above, adjusted to remove the impact of delivery menu price increases. . As of March 31, 2021, Chipotle continues to maintain a strong financial position with nearly $1.2 billion in cash, investments and restricted cash, and no debt. Our financial strength gives us the opportunity to make on-going strategic investments in our people, business, and communities, which we believe will benefit us for years to come. But if youll remember, 2017 was a low point for the Chipotle brand, due to the E. coli outbreaks splashed across headlines at the time. We have implemented and enhanced numerous protocols that give our employees and guests confidence that Chipotle remains steadfast in our commitment to keep them safe as in-restaurant ordering and dining increases. The decrease was largely driven by leverage from menu price increases, which was partially offset by higher freight and beef costs. Of the 215 new restaurants opened during the year, 174 (or 81%) included a Chipotlane. The following provides a reconciliation of non-GAAP financial measures presented in the text above to the most directly comparable financial measures calculated and presented in accordance with GAAP. The $43 collection sold out in less than four minutes. 3. Ft. 6770 Sweet Bay St Lot 17, Las Vegas, NV 89166. Burger Kings new item is getting a ton of buzz, too. Adjusted general and administrative expense is general and administrative expense excluding transformation expenses, stock-based compensation modification expense, and certain other costs. I like the place, But it's not very welcoming. Chipotle Order Now DELIVERY AND PICK-UP AVAILABLE Order Chipotle with the click of a button? Results for the three months ended December 31, 2021: Total revenue in the fourth quarter was $2.0 billion, an increase of 22.0% compared to the fourth quarter of 2020. 1. In terms of drinks, we got the Chipotle-Pineapple Bourbon Sour.This drink includes bourbon, pineapple, and lime juices . An archived webcast will be available approximately one hour after the end of the call. Weighted-average common shares outstanding: Prepaid expenses and other current assets, Leasehold improvements, property and equipment, net, Preferred stock, $0.01 par value, 600,000 shares authorized, no shares issued as of December 31, 2021 and 2020, respectively, Common stock, $0.01 par value, 230,000 shares authorized, 37,132 and 36,704 shares issued as of December 31, 2021 and 2020, respectively, Treasury stock, at cost, 9,052 and 8,703 common shares as of December 31, 2021 and 2020, respectively, Total liabilities and shareholders' equity. Use a code for up to 10% off, free guac + chips. Smoked brisket Chipotle is offering smoked. Season the pork roast with the salt and pepper. By participating in the Sweepstakes, in addition to any other grants which may be granted in any other agreement entered into between Sponsor and any entrant in and/or winner of the Sweepstakes, each entrant irrevocably grants the Sweepstakes Entities and each of their respective successors, assigns and licensees, the right to use such entrants name, social media tag, likeness, and biographical information, and any other personal characteristics, in any and all media for any purpose, including without limitation, to advertise, market and promote Chipotle or the Sweepstakes or other promotions, and each entrant and/or prize winner(s) hereby release the Sweepstakes Entities from any liability with respect thereto. The same logic might explain the dearth of sweet items available at Chipotle. They even tried out buuelos, which ironically are not Mexican at all, but Colombian. "So we radically transformed the business model to avert ruinous losses," Biglari said. Including this repurchase authorization, $240.9 million was available as of December 31, 2021. Use our app or website for takeaway or Deliveroo for delivery. The call will be webcast live from the company's website on the investor relations page at ir.chipotle.com/events. Please reply to this text to complete the process. The following tables provide a reconciliation of non-GAAP financial measures presented in the text above to the most directly comparable financial measures calculated and presented in accordance with GAAP. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE PRIZES ARE PROVIDED AS IS WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, AND SPONSOR HEREBY DISCLAIMS ALL SUCH WARRANTIES, INCLUDING BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND/OR NON-INFRINGEMENT. One of the original 86 area codes created by AT&T and the Bell . Though Chipotle eventually did adopt drive-thru lanes of a sort, it was years after McDonalds fully divested from the company. Text STOP to quit. Maybe that was bad timing to roll out a flashy new menu itemit could have come across as a desperate ploy to lure back skittish customers. You should receive an email from us shortly asking you to verify your email address. The Sweepstakes Entities shall not be responsible for incorrect or inaccurate entry information whether caused by Internet users or by any of the equipment or programming associated with or utilized in the Sweepstakes or by any technical or human error which may occur in the processing of the entries in the Sweepstakes. CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME. Recently the restaurant started accepting cryptocurrency at all of its locations based in the United States. (4) Costs for recruitment, relocation costs, third party and other employee-related costs. About half of the digital sales were from order ahead transactions as guests better understand the value offered by this channel, as well as the added convenience of more Chipotlanes. Entry must be made by the entrant, only via text message. Steve Ells, founder and former executive chairman, first opened Chipotle with a single restaurant in Denver, Colorado in 1993. GAAP and non-GAAP general and administrative expenses for full year 2021 also include $380.8 million of underlying general and administrative expenses,$109.5 millionof non-cash stock compensation,$24.9million related to higher bonus accruals as well as payroll taxes on equity vesting and stock option exercises, and $2.9 million related to the upcoming all-manager conference. It's the first meat alternative the brand has offered since tofu Sofritos hit the menu in 2014. Image source: Chipotle Mexican Grill. The increase in the tax rate was primarily due to the tax benefit booked last year for the 2020 federal net operating loss generated and carried back to prior years, as well as the proportionality of the excess tax benefits from equity vesting and exercises relative to profit before tax in each respective year. In retrospect, it might be a good thing that Chipotle is taking its time releasing a new item. Digital sales grew 24.7% year over year to $3.4 billion and represented 45.6% of sales. By Kristi Eckert Wash and dry ripe jalapenos and place on double rack. Results for the full year ended December 31, 2021: Total revenue for 2021 was $7.5 billion, an increase of 26.1% compared to 2020. Chipotle had over 2,800 restaurants as of March 31, 2021, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. Entrants should check their phones features to see if they have that capability. More From CouponFollow Access our guides, research, and other resources. GOVERNING LAW/JURISDICTION: ALL ISSUES AND QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, INTERPRETATION AND ENFORCEABILITY OF THESE OFFICIAL RULES OR THE RIGHTS AND OBLIGATIONS OF ENTRANTS OR SPONSOR IN CONNECTION WITH THE SWEEPSTAKES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF COLORADO WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OF CONFLICT OF LAW RULES OR PROVISIONS THAT WOULD CAUSE THE APPLICATION OF ANY OTHER STATES LAWS. The repurchase authorization may be modified, suspended, or discontinued at any time. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements, including but not limited to: uncertainty regarding the duration and severity of the ongoing COVID-19 pandemic and its ultimate impact on our business, including supply chain disruptions and difficulties in acquiring restaurant equipment, impact on guest traffic, restaurant sales and operating costs and the ability of our third-party suppliers and business partners to fulfill their responsibilities and commitments; increasing wage inflation and the increasingly competitive labor market, which impacts our ability to attract and retain qualified employees and has resulted in occasional staffing shortages; increasing supply costs, including beef and freight and to a lesser extent, avocados; risks associated with our reliance on certain information technology systems and potential failures or interruptions; privacy and cyber security risks related to our acceptance of electronic payments or electronic processing of confidential customer or employee information, including through our digital app; the impact of competition, including from sources outside the restaurant industry; the financial impact of increasing our national average hourly wage to $15.00; the impact of federal, state or local government regulations relating to our employees, employment practices, restaurant design and construction, and the sale of food or alcoholic beverages; our ability to achieve our planned growth, such as the availability of suitable new restaurant sites and the availability of construction materials and contractors; increases in ingredient and other operating costs due to our Food With Integrity philosophy, tariffs or trade restrictions and supply shortages; the uncertainty of our ability to achieve expected levels of comparable restaurant sales due to factors such as changes in consumers' perceptions of our brand, including as a result of actual or rumored food safety concerns or other negative publicity, decreased overall consumer spending (including but not limited to the increase in unemployment caused by COVID-19), or the inability to increase menu prices or realize the benefits of menu price increases; risks associated with our increased focus on our digital business, including risks arising from our reliance on third party delivery services; risks relating to litigation, including possible governmental actions related to food safety incidents and potential class action litigation regarding employment laws, advertising claims or other matters; and other risk factors described from time to time in our SEC reports, including our annual report on Form 10-K and quarterly reports on Form 10-Q, all of which are available on the investor relations page of our website at ir.Chipotle.com.
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