The restaurant chain’s expansion efforts are outpacing some of its main competitors in the fast food industry.
At least, that’s what CEO Scott Boatwright said on Chipotle’s first-quarter earnings call on Wednesday.
Boatwright informed investors that the restaurant openings would “surpass the size and scale of most of our competitors.”
While 345 is the target goal, Chipotle has noted a range of 315 to 345 for openings by 2026, with at least 80% including a Chipotlane.
Chipotlanes are popular drive-thrus where customers can pick up pre-ordered items via mobile or online.
Internationally, Boatwright stated that the company will open 15 to 20 new restaurants in Canada and another five in the Middle East.
He also announced that Chipotle had signed a new development partnership agreement with Alsea, the region’s leading restaurant operator, to bring restaurants to Mexico.
While no specific timeline or quantity was provided for the openings, the CEO stated that Chipotle would work to open locations in the country by 2026.
Boatwright also emphasized that Chipotle had faced changes in consumer spending habits in recent months.
“While our first quarter results were impacted by several headwinds, including weather and a slowdown in consumer spending, our teams continue to make significant progress improving the execution in our restaurants, innovating our back of house, and building Chipotle into a global iconic brand,” the CEO said in a conference call.
Nonetheless, he expressed confidence in customer foot traffic for the rest of the year, noting that Chipotle’s most popular items, chicken-based burritos and burrito bowls, are priced under $10 on average.
According to the CEO, this is approximately 30% less than some rivals.
“I am confident that we have a strong plan to return to positive transaction comps by the second half of the year, and during these uncertain times, we will continue to invest in the things that make Chipotle a special brand — our people, culinary, value proposition, innovation and growth,” according to Boatwright.
TARIFF TALK
Chipotle CFO Adam Rymer also discussed the expected effects of the Trump administration’s global reciprocal tariffs, which were announced earlier in April.
Rymer stated that some sales increases expected later this year would be offset by “higher inflation across several items, the normalization of avocado prices, and the impact of the newly enacted tariffs…”
What items will be affected by the tariffs?
AMERICANS should prepare to see significant prices changes on everything from avocados to cars under President Donald Trump’s new global tariffs.
Here is a list of some of the everyday products that could see a massive price tag surge.
- Coffee
- Tea
- Bananas
- Foreign-made cars
- Sneakers
- Furniture and other home goods
- Pharmaceuticals
- Video games
- Clothing
- Toys
- Washers and dryers
- Avocados
- Housing materials
“We estimate these tariffs will have an ongoing impact of about 50 basis points, and due to inventory on hand, we anticipate a 20 basis point impact in Q2, which is included in our guidance,” the CEO said.
Rymer explained that the estimates do not “include any impact from the tariffs that were postponed” by Trump’s 90-day pause, “or the 25% tariffs on Mexico and Canada.”
BACK AGAIN SOON?
Customers may also be interested to know that the Chipotle Honey Chicken offering will soon be available again after disappearing from menus.
Following tests in 2024, it has been available for ordering at the chain’s restaurants since March 6, 2025.
On Wednesday’s earnings call, Boatwright stated that the Chipotle Honey Chicken had been so successful that the company was “confident to bring it back in the future.”
There is no confirmed end date for Chipotle Honey Chicken, but it is expected to remain open until May.
Chipotle has recently gained popularity for a variety of reasons.
Rumors circulated online in March that the restaurant chain might declare bankruptcy following some closures.
This month, the company also relaunched its Vault game, which gives customers the chance to win free burritos for a year.
