These formats continue to perform very well and are helping enhance guest access and convenience, as well as increase new restaurant sales, margins, and returns. Per serving, Chipotle chips contain 540 calories, the total carbohydrate stands at 73 grams, 25 grams of fat, and 390 grams of sodium. Comparable restaurant sales began to moderate in the back half of December as the number of Omicron cases spiked. However, despite its past failures, the company remains committed to finding that perfect sweet treat to suit its menus. Through the end of February, same-store sales had increased 14.4%. This was partially offset by a net reduction in tax expense mostly related to the write-off of uncertain tax position reserves in 2021. (4) Costs for recruitment, relocation costs, third party and other employee-related costs. The improvement was driven primarily by leverage from the comparable restaurant sales increase and menu price increases, partially offset by increased delivery expense and wage inflation. Each prize consists of one (1) Burrito Code. Reconciliations to GAAP measures and further information are set forth in the table at the end of this press release. It involves market research, menu development, recipe testing, price determination, test marketsthe list goes on. Chipotle will be one of them. 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. Sorry to see you go. We also have access to a recently refinanced $500 million untapped credit facility with which to continue to navigate this crisis. Nearby homes similar to 10971 Chipotle Ave have recently sold between $485K to $570K at an average of $255 per square foot. Average restaurant sales in all comparative Message and data rates may apply. Nearby Recently Sold Homes. SHARE Transfer the pork to a slow cooker. Operating lease asset impairment and other restaurant costs(1), Operating lease asset impairment and other office closure costs(3), Stock-based compensation modification expense(5), Diluted weighted-average number of common shares outstanding. By Daniels / October 18, 2020 January 8, 2021. . If a winner does not have a Chipotle Rewards, the winner can create a free account at the time the prize is claimed. Food, beverage and packaging costs were 30.6% of total revenue, a decrease of 170 basis points compared to 2020. (1) Beginning in Q3 2020, we revised the definition of average restaurant sales to exclude delivery service revenues (refer to Definitions section above). Steve Ells, founder and former executive chairman, first opened Chipotle with a single restaurant in Denver, Colorado in 1993. Minors must get their parent or legal guardians permission to enter the Sweepstakes. However, following its debut, a flurry of social media backlash erupted that accused the chain of the offensive act of rainbow washing. Average restaurant sales is a trailing 12-month measure. The text messaging method of entry is designed to work with most of the major wireless carriers in the United States, but Sponsor makes no guarantee that any particular wireless service provider will participate, and the mobile phone that is used must be capable of sending and receiving text messages. GENERAL LIABILITY RELEASE/FORCE MAJEURE: Each entrant (and any minor entrants parent or legal guardian) agrees that the Sweepstakes Entities (A) shall not be responsible or liable for, and are hereby released from, any and all costs, injuries, losses or damages of any kind, including, without limitation, death and bodily injury, due in whole or in part, directly or indirectly, to participation in the Sweepstakes or any Sweepstakes-related activity, or from entrants acceptance, receipt, possession and/or use or misuse of any prize, and (B) have not made any warranty, representation or guarantee express or implied, in fact or in law, with respect to any prize, including, without limitation, to such prizes quality or fitness for a particular purpose. Restaurant operating costs (exclusive of depreciation and We repurchased $168.9 million of stock at an average price per share of $1,750 during the fourth quarter. With over 97,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. The repurchase authorization may be modified, suspended, or discontinued at any time. Why no post-carnitas confections, Chipotle? 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. (2) In Q3 2020, we began implementing delivery menu-price increases ("MPI") to partially offset the increased cost of delivery. If the Sweepstakes is terminated before the designated end date, Sponsor may (if possible) select the winner in a random drawing from all eligible, non-suspect entries received as of the date of the event giving rise to the termination. Let's go over three items that Chipotle is currently testing that have a shot at going national in 2021. Sponsor reserves the right to modify, extend, suspend, or terminate the Sweepstakes if it determines, in its sole discretion, that the Sweepstakes is technically impaired or corrupted or that fraud or technical problems, failures or malfunctions or other causes beyond Sponsors control have destroyed or severely undermined or to any degree impaired the integrity, administration, security, proper play and/or feasibility of the Sweepstakes as contemplated herein. If, for any reason, more bona fide winners come forward seeking to claim prizes in excess of the number of each type of prize set forth in these Official Rules, the winners, or remaining winners, as the case may be, of the advertised number of prizes available in the prize category in question may be selected in a random drawing from among all persons making purportedly valid claims for such prize(s). 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. 7. Digital sales grew 24.7% year over year to $3.4 billion and represented 45.6% of sales. In Chipotle's mind, dessert would be another perfect opportunity for customers to spend a little more each time they visit. We present these non-GAAP measures in order to facilitate meaningful evaluation of our operating performance across periods. If, however, subpart (vi) is found to be invalid, unenforceable or illegal, then the entirety of this arbitration provision shall be null and void, and neither entrant nor Sponsor shall be entitled to arbitrate their dispute. Even without dessert or other new add-ons, Chipotle's sales are growing. For more information on JAMS and/or the rules of JAMS, visit their website at www.jamsadr.com. The adjusted effective income tax rate is the effective income tax rate adjusted to reflect the after tax impact of non-GAAP adjustments. $484,990 Last Sold Price. PRIZES/ODDS: Twenty One Thousand (21,000) prizes are available. (2) Charges relate to estimated settlements for distinct legal matters that exceeded or are expected to exceed typical costs for these types of legal proceedings. Chipotle has already definitively decided to add dessert to its menu. Or, hey, maybe the buuelos simply werent that great, as some 2017 reviews suggest. Inclusion in such drawing shall be each entrants sole and exclusive remedy under such circumstances. NEWPORT BEACH, Calif., April 21, 2021 /PRNewswire/ --Chipotle Mexican Grill, Inc. (NYSE: CMG) today reported financial results for its first quarter ended March 31, 2021. Although, unlike Wendys, not all of it has been positive. We also have access to a $500 million untapped credit facility. NO PURCHASE NECESSARY TO ENTER OR WIN A PRIZE IN THIS SWEEPSTAKES. Pros: Fresh, organic produce and sustainably sourced proteins. General and administrative expenses for the fourth quarter were$159.8 millionon a GAAP basis, or$132.8 million2on a non-GAAP basis, excluding$18.0 million related to the proposed settlement of legal matters, $7.6 million for a COVID-19 related modification made in December 2020 to the 2018 performance shares, and$1.3 millionrelated to transformation expenses, restaurant closure costs and certain other costs. Chipotle is also accused of violating the city's 2014 sick leave law by only allowing 24 hours of sick leave though the law requires 40 hours, and for not allowing workers time off to care for . Line out the door and also people waiting on to go orders inside. 2. Unfortunately, none of the desserts took off. Entrants should check their phones features to see if they have that capability. When you walk in, every single table is a mess; the custodians only clean at the end of the day. Chipotle Mexican Grill Menu and Prices - Menu With Price Menu With Price Menu Chipotle Mexican Grill Menu Chipotle Mexican Grill Menu and Prices 4.2 based on 795 votes Order with Chipotle Mexican Grill Nutrition Facts Mexican Southwestern Choose My State Restaurant level operating margin was 20.2%, an increase from 19.5% in the fourth quarter of 2020. Now to make Easy Christmas Desserts Recipes first step in making these bars is going to be preparing our base., so in my bowl, I have got some room temperature butter it's always a good idea to get your butter to room temperature when you're doing any baking trust me it just makes your life a whole lot easier. The $43 collection sold out in less than four minutes. 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. Chipotle has reconfigured 12 existing restaurants to add a drive-thru, and the company revealed that those locations are experiencing an increase in sales. 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. Save up to 10% with these current Chipotle coupons for March 2023. All details and other restrictions of the prize not specified in these Official Rules will be determined by Sponsor in its sole discretion. Adjusted general and administrative expense is general and administrative expense excluding transformation expenses, stock-based compensation modification expense, and certain other costs. Chipotle is gearing up to add dessert to its dining options. Learn more in our Privacy Policy. 2 Heading corrected from the original issuance. It may come as a surprise that Chipotle only has 5 items on their regular menu. SPONSOR: CMG Strategy Co., LLC, 610 Newport Center Drive, Suite 1400, Newport Beach, California, 92660. Restaurant level operating margin was 22.6%, an increase from 17.4% in 2020. 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. Recently the restaurant started accepting cryptocurrency at all of its locations based in the United States. Certain statements in this press release are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements about our goals for number of Chipotle restaurants, restaurants with Chipotlanes and rate of expansion, first quarter 2022 comparable restaurant sales, estimated tax rates, future cash flow, and future long-term prospects. No mechanically reproduced, illegible, incomplete, forged, software-generated or other automated multiple entries will be accepted. Had to wait another 15 for them to cook steak since it wasn't even started yet. A little more than half of the digital sales were from order ahead transactions as guests increasingly appreciate both the value and convenience offered by this channel, as well as the added convenience of more Chipotlanes. From wellplated.com. 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. (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. CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME. 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 of $1,485, and costs of a COVID-19 related modification made in December 2020 to our 2018 performance shares of $466. . The new location is soon opening in Ohio . A Mexican chocolate shake? Management believes restaurant level operating margin is useful to investors in that it highlights trends in our core business that may not otherwise be apparent to investors when relying solely on GAAP financial measures. Freepotle: Get More Free Food with Chipotle Rewards 2023 Drops. May 21, 2021. All portions of the prize are non-assignable and non-transferable. We made this This is a GREAT sandwich. The Sweepstakes Entities assume no responsibility or liability for any error, omission, interruption, deletion, theft or destruction, or unauthorized access to, or alteration of entries. The pickles on the sandwich gave a nice crunch.The salt and pepper brioche bun was soft and fresh and complemented the brisket perfectly.. Because the morning is when employees are prepping fresh ingredients for the lunchtime rush, and a breakfast menu would only pull focus from the restaurants core offerings. Sure, the chain is known for rapid-fire tex-mex, but those in the known say there might be several reasons why desserts have never been available. Smoke for 24-48 hours, until very dry. Here's what a representative for Chipotle told The Takeout via email (emphasis ours): Over the past four years, we have tested a handful of dessert items, however, nothing has passed the stage-gate process for a national rollout yet. SOLD FEB 13, 2023. Eventually, Steak 'n Shake would post an aggregate pre-tax loss of $33.8 million at the end of 2020. Out of hard tacos, veggies, chips, and no straws for fountain drinks. Toss in cinnamon and sugar Enjoy! Excluding the impact of PSU modifications, restaurant asset impairment and closure costs, and corporate restructuring expenses, adjusted net income was $153.1 million and adjusted diluted earnings per share was $5.36. A couple of items have been trialed in this category over the past few years, however, we arent ready to push anything through the official stage gate process yet, detailed Brandt via CNN. 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. Chipotle Is Testing a Plant-Based Version of Chorizo. Excluding the impact of modification expenses related to our 2018 PSUs, legal expenses, corporate restructuring, restaurant asset impairment, and certain other costs, adjusted net income for 2021 was $724.8 million and adjusted diluted earnings per share was $25.42. GAAP and non-GAAP general and administrative expenses for the first quarter of 2021 also include underlying general and administrative expenses totaling $89.0 million, $29.7 million of non-cash stock compensation, and $10.2 million related to higher bonus accruals as well as payroll taxes on equity vesting and stock option exercises. 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. The first 21,000 eligible entrants to text the Code to the Short Code will receive a text message with one (1) one (1) Chipotle Rewards credit valid for one (1) free burrito (the Burrito Code). All entries must be received by the end of the Sweepstakes Period in order to participate. But the lack of a dessert has also not gone unnoticed. BestsellerThe Barista Express grinds, foams milk, and produces the silkiest espresso at the perfect temperature. WINNERS LIST: To obtain a copy of any legally-required winners list, send a self-addressed stamped envelope to: The Chipotle NYE Sweepstakes 2020 Winners List, CMG Strategy Co., LLC, 610 Newport Center Drive, Suite 1400, Newport Beach, California, 92660. Most Popular Chipotle Promo Codes & Sales. As they dry, they shrink and some may drop through the grates, so double the racks. We had a total of 355 Chipotlanes as of year-end. Constantine Spyrou. 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. (3) For the three months ended December 31, 2021 and 2020, and year ended December 31, 2021, stock-based compensation consists of a COVID-19 related modification made in December 2020 to our 2018 performance shares. In fact, Chipotle CEO Brian Niccol is so pleased with the new product that he touted its performance as outstanding and the chains most popular protein to date. He even went as far as to give pollo asado the credit for Chipotle exceeding revenue expectations in the second fiscal earnings quarter of 2022. 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. 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. You will receive a text from us shortly asking you to confirm your mobile number. Forty-five of those included a Chipotlane. By Kristi Eckert DESCRIPTION: The Chipotle NYE 2020 Sweepstakes (the Sweepstakes) begins on December 31, 2020 at approximately 4:00 pm Pacific Time (PT) the earlier of (i) December 31, 2020 at 4:15 pm PT or (ii) when all Burrito Codes (defined below) have been distributed (the Sweepstakes Period). Entrants should consult their wireless service providers pricing plan for details. Ft. 6770 Sweet Bay St Lot 17, Las Vegas, NV 89166. Restaurant Level Operating Margin, a non-GAAP financial measure, is equal to the revenues generated by our restaurants less their direct operating costs which consist of food, beverage and packaging, labor, occupancy and other operating costs. Of the 215 new restaurants opened during the year, 174 (or 81%) included a Chipotlane. It turns out that Chipotle has dabbled in dessertthough only internally. The dessert option is reportedly 100% vegan. Fourth quarter highlights, year over year: Full year 2021 highlights, year over year: "2021 was an outstanding year for Chipotle, highlighting the strength and resiliency of our brand. 2,193 Sq. Chipotle chips contain high amounts of calories and unsaturated fats. 1. In retrospect, it might be a good thing that Chipotle is taking its time releasing a new item. Shares of Chipotle climbed nearly 1% to $1,523.05 in Tuesday's session, though the stock was down more than 3% in after-hours trading. The Sponsors database clock will be the official time-keeper for this Sweepstakes. 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. 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: the ongoing adverse effect of the novel coronavirus (COVID-19) pandemic on our guest traffic, restaurant sales and operating costs as a result of actions we have taken in response to the coronavirus, including closing some restaurants, ending dine in service at some restaurants while continuing to offer only takeout and/or delivery, modifying work hours at some restaurants, extending enhanced benefits to employees working during and/or impacted by the coronavirus, increasing compensation for restaurant employees, purchasing masks, gloves and additional sanitation supplies and services and delaying the construction of new restaurant openings; risks that the impact of the coronavirus pandemic will continue for a long duration and may require a more drastic response, such as closing all or most restaurants; risks of food safety and food-borne illnesses and other health concerns about our food; 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; the impact of competition, including from sources outside the restaurant industry; the increasingly competitive labor market and our ability to attract and retain qualified employees; 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; 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 the coronavirus pandemic), 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, which are heightened during the pendency of government restrictions on dine in restaurant services as a result of the coronavirus pandemic; 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.