Chipotle to close up to 65 stores, revamp menu under new CEO
According to a recent article in Reuters Chipotle Mexican Grill will shut up to 65 underperforming restaurants and reschedule its marketing strategy under new Chief Executive Officer Brian Niccol. It is unknown what to expect and many questions remain unanswered.
Chipotle’s stock price has risen 80% since the announcements made in February 2018.
Chipotle will add “in-app” delivery service of it’s menu items to approximately 2,000 restaurants by the end of 2018. As part of a newly revamped marketing concept, the company will launch a long-awaited loyalty program sometime in 2019,as discussed on a recent conference call with investors.