The increase in total revenue was driven by a 19.3% increase in comparable restaurant sales and new restaurant openings. No cash alternative or substitution of prizes will be allowed, except Sponsor reserves the right in its sole discretion to substitute prize(s) of comparable value if any prize listed is unavailable, in whole or in part, for any reason. Like the rest of us, Chipotle kicked off 2021 with a health-forward mindset. Inclusion in such drawing shall be each entrants sole and exclusive remedy under such circumstances. Chipotle Coupons and Promo Codes for March. Adjusted net income is net income excluding expenses related to restaurant asset impairment, corporate restructuring, legal proceedings, stock-based compensation modification expense, and certain other costs. Chipotle appears to be quietly looking at a new dessert option for its menu: mini churro loops dusted in cinnamon sugar . Highlights from Chipotle's 2021 Sustainability Report Update include: People Impact 90% of restaurant management roles were internal promotions Promoted almost 19,000 team members Offered free & confidential Employee Assistance Program (EAP) services to all Chipotle Employees Achieved a Human Rights Campaign Corporate Equality Index score of 100 2.5 Baths. We are constantly exploring new menu innovations, and dessert is an area where we see opportunity, asserted Chipotles Chief Marketing Officer Chris Brandt. Management uses restaurant level operating margin as a measure of restaurant performance. "Chipotle is off to a great start in 2021 thanks to our employees and their incredible level of collaboration and tireless dedication," said Brian Niccol, Chairman and CEO, Chipotle. We repurchased $168.9 million of stock at an average price per share of $1,750 during the fourth quarter. 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. However, judging by the positive reception toward a more recently released limited-time item, pollo asado, it seems like the company may finally be finding its groove. Assuming the effects of the pandemic continue to subside, we expect first quarter 2022 comparable restaurant sales to be in the mid to high single digits range. Digital sales grew 24.7% year over year to $3.4 billion and represented 45.6% of sales. Wendys is launching a new strawberry Frosty flavor. Sponsor reserves the right in its sole discretion to disqualify any individual who is found to be tampering with the entry process or the operation of the Sweepstakes, to be acting in violation of these Official Rules, or to be acting in an unsportsman-like or disruptive manner, or with the intent to disrupt or undermine the legitimate operation of the Sweepstakes, or to annoy, abuse, threaten or harass any other person, and Sponsor reserves the right to seek damages and other remedies from any such person to the fullest extent permitted by law. (6) For the three months ended March 31, 2020, other adjustments consists of severance associated with the departure of our former Executive Chairman primarily related to his 2017 agreement. From zesty cilantro lime rice, to juicy beef barbacoa, to freshly made salsa, this homemade version will beat Chipotle's burrito bowl any day. 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. The dessert option is reportedly 100% vegan. (2) Duplicate rent expense for the corporate headquarter relocation and office consolidation announced in May 2018 and rent expense for closed restaurants announced in June 2018. Net income for the first quarter was $127.1 million, or $4.45 per diluted share, an increase from $76.4 million, or $2.70 per diluted share, in the first quarter of 2020. We use words such as "anticipate", "believe", "could", "should", "may", "approximately", "estimate", "expect", "potential", "intend", "project", "target", and similar terms and phrases, including references to assumptions, to identify forward-looking statements. 3 Beds. SOLD FEB 21, 2023. Copyright 2021 Walk Big/TellMeBest.com/All Rights Reserved, Twitter Fined Over $150 Million For Serious User Privacy Violation, How Housing Market Prices Will Change This Year, Why Cases Of Credit Card Fraud Are Higher Than Ever, You Can Now Buy Girl Scout Cookie-Inspired Makeup, Tons Of US Hospitals Arent Equipped To Treat Sick Kids And This Winter Proved It. Chipotle said it will increase restaurant wages resulting in a $15 average hourly wage by the end of June, as it looks to bring on 20,000 workers. Including this repurchase authorization, approximately $153.8 million was available as of March 31, 2021. The Sponsors database clock will be the official time-keeper for this Sweepstakes. 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. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES, Adjusted General and Administrative Expenses, Stock-based compensation modification expense(2), Adjusted general and administrative expenses. earn rewards, or $0 delivery + more depending on the latest offers. Per serving, Chipotle chips contain 540 calories, the total carbohydrate stands at 73 grams, 25 grams of fat, and 390 grams of sodium. Season the pork roast with the salt and pepper. Use our app or website for takeaway or Deliveroo for delivery. Apple dipping sauce? 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. I'mexcited about our future as we remain focused on innovating in culinary, leading in food with integrity, and providing convenient access inside our restaurants and through our expanding digital ecosystem.". Add the chicken broth, bay leaves, thyme and juniper berries. About Chipotle Mexican Grill Chipotle Mexican Grill is a fast-casual restaurant that was founded in 1993 by Steve Ells in Denver, Colorado. When White Castle put the first nationally . Given the healthy and improving cash on cash returns, we are building a real estate pipeline that will allow us to accelerate unit growth to be in the range of 8% to 10% per year, with greater than 80% of new restaurants having a Chipotlane. 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. Net income for 2021 was $653.0 million, or $22.90 per diluted share, compared to net income of $355.8 million, or $12.52 per diluted share for 2020. Our adjusted net income, adjusted diluted earnings per share, and adjusted general and administrative expenses measures may not be comparable to other companies' adjusted measures. Adjusted general and administrative expense is general and administrative expense excluding transformation expenses, legal proceedings, stock-based compensation modification expense, and certain other costs. For 2022, management is anticipating the following: Thefollowing definitions apply to these terms as used throughout this release: Chipotlewill host a conference call on Tuesday, February 8, 2022, at 4:30 PM Eastern time to discuss fourth quarter and full year 2021 financial results, as well as provide a business update for the 2022 first quarter to date. Browse the latest coupon statistics and trends for 2021. In early 2020, Chipotle Mexican Grill CEO Brian Niccol looked at the company numbers and felt pretty excited about the momentum. The Sweepstakes will end when all Burrito Codes have been distributed or at the end of the Sweepstakes Period. 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. SOLD FEB 21, 2023. Adjusted general and administrative expense is general and administrative expense excluding transformation expenses, stock-based compensation modification expense, and certain other costs. By participating in the Sweepstakes, each entrant unconditionally accepts and agrees to comply with and abide by these Official Rules and the decisions of CMG Strategy Co., LLC, 610 Newport Center Drive, Suite 1400, Newport Beach, California, 92660 (Sponsor), which shall be final and binding in all respects. The repurchase authorization may be modified, suspended, or discontinued at any time. 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. Although, it will likely be some time before customers see any new items, desserts or otherwise, pop up. Comparable restaurant sales were fairly consistent in each month of the fourth quarter due to a combination of factors including healthy demand for Smoked Brisket, strength in digital sales, and the benefit of menu price increases. The Mexican Chocolate Shake debuted in 2018, exclusively at Chipotles NYC test kitchen, but hasnt spread outward to other locations since. Chipotle's revenue increased by 7.1% to $6.0 billion whereas comparable restaurant sales increased 1.8%. underlying food and beverage sales per restaurant. The call will be webcast live from the company's website on the investor relations page at ir.chipotle.com/events. Cook on both sides for 4-5 minutes or until golden brown. "As vaccines roll out and we get closer to moving past this pandemic, I believe Chipotle is well positioned for growth. Chipotle is a Nahuatl word that means dried and smoked jalapeno chili pepper. accrued liabilities, Acquisition of treasury stock accrued in accounts payable and accrued liabilities, Average restaurant sales, excluding As they dry, they shrink and some may drop through the grates, so double the racks. Chipotle will host a conference call to discuss third quarter 2021 financial results on Thursday, October 21, 2021, at 4:30 PM Eastern time. The conference call can be accessed live over the phone by dialing 1-888-317-6003 or for international callers by dialing 1-412-317-6061 and use code: 5215022. Chipotle Hello 2021! Except as otherwise contemplated in these Official Rules, and to the extent entrants may otherwise elect at the time of entry, personal information collected by Sponsor in connection with the Sweepstakes will be used in accordance with Sponsors privacy policy located at https://www.chipotle.com/about-us/privacy-policy. Chipotle is ranked on the Fortune 500 and is recognized on the 2021 lists for Forbes' America's Best Employers and Fortune's Most Admired Companies. periods presented has been updated to conform with the new definition. Theres nothing quite like the hyper-efficiency of Chipotle. Meanwhile, Chipotle isnt the only restaurant playing around with new menu options. In the three months ended March 31, sales at restaurants open at least 13 months jumped 9% and total revenue grew 16% to. Decorated Egg Sugar Cookies (gluten free) - Gluten free sugar cookies cut in Easter egg shapes and decorated. 40 retailers giving online discounts to veterans and active military for Veterans Day Veterans Day deals 2021: Military veterans get free food, coffee and other discounts Thursday 10. These Official Rules cannot be modified or amended in any way except in a written document issued in accordance with law by a duly authorized representative of Sponsor. Adjustments to reconcile net income to net cash provided by operating activities: Changes in operating assets and liabilities: Net cash provided by operating activities, Purchases of leasehold improvements, property and equipment, Tax withholding on stock-based compensation awards, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net change in cash, cash equivalents, and restricted cash, Cash, cash equivalents, and restricted cash at beginning of period, Cash, cash equivalents, and restricted cash at end of period, Supplemental disclosures of cash flow information, Purchases of leasehold improvements, property, and equipment accrued in accounts payable and Message and data rates may apply. Through the end of February, same-store sales had increased 14.4%. 2 Heading corrected from the original issuance. During the quarter, our Board of Directors approved the investment of up to an additional $200.0 million, exclusive of commissions, to repurchase shares of our common stock, subject to market conditions. Chipotle is also releasing the Eyes. 4. on March 10, and the "beauty-inspired all-vegan entre" will be available on the . We made this, (2) In Q3 2020, we began implementing delivery menu-price increases ("MPI") to partially offset the increased cost of delivery. 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. As of December 31, 2021, Chipotle continues to maintain a strong financial position with $1.4 billion in cash, investments and restricted cash, and no debt. All portions of the prize are non-assignable and non-transferable. TELL ME BEST connects users to the best things in life by delivering product information, reviews, and news. Nearby homes similar to 10971 Chipotle Ave have recently sold between $485K to $570K at an average of $255 per square foot. (5) For the three months ended March 31, 2021, stock-based compensation consists of a modification to 2018 performance shares. 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. We restarted the buyback program in late February and repurchased $61.2 million of stock at an average price of $1,425 during the first quarter. 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. These decreases were partially offset by costs associated with cauliflower rice and fewer sales of high margin beverages. Sponsor makes no warranties, and hereby disclaims any and all warranties, express or implied, concerning any prize furnished in connection with the Sweepstakes. 7. Officers, directors and employees of Sponsor, Google, and each of their respective parents, subsidiaries, affiliates, distributors, retailers, sales representatives, advertising and promotion agencies involved in the Sweepstakes (all such individuals and entities collectively referred to herein as the Sweepstakes Entities), and the immediate family members and/or those residing in the same household of each are ineligible to enter the Sweepstakes or win a prize. NEWPORT BEACH, Calf., Feb. 8, 2022 /PRNewswire/ -- Chipotle Mexican Grill, Inc. (NYSE: CMG) today reported financial results for its fourth quarter and fiscal year ended December 31, 2021.. The news came as a big deal, mostly because Wendys hasnt introduced a new Frosty flavor in years. Restaurant operating costs (exclusive of depreciation and amortization shown separately below): Impairment, closure costs, and asset disposals. Drinks. If that unfolds as designed, we're talking 140 Chipotlanes added to the mix in 12 months. No steak after waiting 15 minutes in line. The improvement was driven primarily by leverage from comparable restaurant sales and menu price increases, partially offset by wage inflation, higher commodity inflation primarily from freight and beef, as well as increased delivery expenses. The call will be webcast live from the company's website on the investor relations page at ir.chipotle.com/events. It may come as a surprise that Chipotle only has 5 items on their regular menu. You've taken the first step in subscribing to the Chipotle email list. In retrospect, it might be a good thing that Chipotle is taking its time releasing a new item. Burger Kings new item is getting a ton of buzz, too. We present these non-GAAP measures in order to facilitate meaningful evaluation of our operating performance across periods. Place peppers in the smoker. Please reply to this text to complete the process. (4) Costs for recruitment, relocation costs, third party and other employee-related costs. May 21, 2021. This is intended to illustrate our Top the chicken with the olive oil, salt, pepper, lime zest, and lime juice. Entries made by any other individual or any entity, and/or originating at any other wireless number, including but not limited to commercial sweepstakes subscription notification and/or entering service sites, will be declared invalid and disqualified for this Sweepstakes. (4) Costs for recruitment, relocation costs, third party and other employee-related costs. In order to wring the most value out of its investment, McDonalds spent years encouraging Chipotle to adopt certain fast food conventions, recommending (among other things) drive-thru lanes and a breakfast menu. We also have access to a recently refinanced $500 million untapped credit facility with which to continue to navigate this crisis. Food, beverage and packaging costs in the fourth quarter were 31.6% of total revenue, an increase of 60 basis points compared to the fourth quarter of 2020. On a non-GAAP basis, the 2021 fourth quarter effective income tax rate was 18.7%2. Photo: Constantine Spyrou // Foodbeast. This performance measure primarily includes the costs that restaurant level managers can directly control and excludes other operating costs that are essential to conduct our business. 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. On a non-GAAP basis, the 2021 full year effective income tax rate was 20.0%. The decrease was largely driven by leverage from menu price increases, which was partially offset by higher freight and beef costs. This is a GREAT sandwich. A PURCHASE WILL NOT IMPROVE YOUR CHANCE OF WINNING. ELIGIBILITY: Only legal U.S. residents of the fifty (50) United States and District of Columbia who are at least thirteen (13) years of age or older at the time of entry are eligible to enter. Eventually, Steak 'n Shake would post an aggregate pre-tax loss of $33.8 million at the end of 2020. "Moving forward, we believe expanding access and convenience through our digital ecosystem, accelerating unit growth, and continuing to develop and support our restaurant employees, will put us in a much stronger competitive position.". First quarter comparable restaurant sales growth in the mid to high single digits range, Between 235 to 250 new restaurant openings (including 5 to 10 relocations to add a Chipotlane), which assumes construction and permit delays related to COVID-19 don't worsen, An estimated underlying effective full year tax rate between 25% and 27% before discrete items. Smoke for 24-48 hours, until very dry. Excluding the impact of legal expenses, modification expenses related to our 2018 PSUs, corporate restructuring, and restaurant asset impairment, adjusted net income for the fourth quarter 2021 was $159.1 million and adjusted diluted earnings per share was $5.58. No need to remove the stems at this point. Preferred stock, $0.01 par value, 600,000 shares authorized, no shares issued as of March 31, Common stock, $0.01 par value, 230,000 shares authorized, 36,936 and 36,704 shares issued as. Smoked brisket Chipotle is offering smoked. Whatever Chipotle is currently doing is clearly working as a recent earnings call reported a 26% spike in revenue between 2020 and 2021. 9. Chipotle Black Beans (Copycat) recipe with chili powder, cumin, lemon and lime is an easy recipe that lets you brings the taste of Chipotle Mexican Grill home. Chipotle declined on both counts. Based on the success of small-town locations that are delivering unit economics at or better than traditional Chipotle locations, we provide the following update to our long-term development opportunity: Given the resurgence in COVID-19 cases during the fourth quarter due to the Omicron variant, the health and well-being of our employees and guests remains our top priority. Lots of breakfast, lunch, dinner, snack, and add-on options available. Beyond the investments made in our people, restaurants, and supply chain, we are closely following the recommendations of the CDC and local health departments. 2020, respectively, Total liabilities and shareholders' equity, CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS. 2,193 Sq. Adjusted net income is net income excluding expenses related to restaurant asset impairment, corporate restructuring, stock-based compensation modification expense, and certain other costs. CHIPOTLE MEXICAN GRILL, INC. Prizes pictured in point-of-sale, online, television and print advertising, promotional packaging, and other Sweepstakes materials are for illustrative purposes only. Proof of text messaging the Short Code is not considered proof of delivery to or receipt by Sponsor of such entry. We present these non-GAAP measures in order to facilitate meaningful evaluation of our operating performance across periods. 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. NO PURCHASE NECESSARY TO ENTER OR WIN A PRIZE IN THIS SWEEPSTAKES. Growth and innovation have been on the rise for the company. TELL ME BEST may get a commissionfrom retail offers. For the year ended December 31, 2020, other adjustments consist of charges associated with the departure of our former Executive Chairman of $3,840, an asset impairment charge related to digital technology of $2,708, and consulting fees of $666 for the assistance with the calculation of our non-recurring tax benefit. Whether it's traditional dishes such as chile verde and carne guisada, or less traditional options including Chipotle chicken and Mexican casserole, there's sure to be something that the whole family will happily enjoy. Use a code for up to 10% off, free guac + chips. The forward-looking statements in this press release are based on currently available operating, financial and competitive information available to us as of the date of this release and we assume no obligation to update these forward-looking statements. For the year ended December 31, 2020, stock-based compensation consists of a March 2020 modification associated with the departure of our former Executive Chairman primarily related to his 2017 agreement, and costs of a COVID-19 related modification made in December 2020 to our 2018 performance shares. GENERAL PRIZE CONDITIONS: The prize will be awarded only if the potential prize winner fully complies with these Official Rules. Chips. In the past, theyve tried to introduce churros and a chocolate shake. They even tried out buuelos, which ironically are not Mexican at all, but Colombian. All such requests must be received within six (6) weeks after the end of the Sweepstakes Period. Chipotle chips contain high amounts of calories and unsaturated fats. If a winner does not have a Chipotle Rewards, the winner can create a free account at the time the prize is claimed. (2) For the three months ended March 31, 2021, stock-based compensation consists of a modification to 2018 performance shares.
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