2020, respectively, Total liabilities and shareholders' equity, CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS. Per serving, Chipotle chips contain 540 calories, the total carbohydrate stands at 73 grams, 25 grams of fat, and 390 grams of sodium. Yield 6 servings Prep Time 10 minutes Cook Time 15 minutes Total Time 25 minutes Course Side Cuisine Mexican Author Sabrina Snyder Rate Ingredients US Customary Metric Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. SOLD FEB 21, 2023. 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. 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. 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. (5) For the three months ended March 31, 2021, stock-based compensation consists of a modification to 2018 performance shares. Reconciliations to GAAP measures and further information are set forth in the table at the end of this press release. Restaurant level operating margin was 20.2%, an increase from 19.5% in the fourth quarter of 2020. Theconference 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: 7541344. No cash alternative or substitution of the prize will be allowed, except Sponsor reserves the right in its sole discretion to substitute a prize of comparable value if any prize listed is unavailable, in whole or in part, for any reason. NO PURCHASE NECESSARY TO ENTER OR WIN A PRIZE IN THIS SWEEPSTAKES. 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. Like the rest of us, Chipotle kicked off 2021 with a health-forward mindset. The news came as a big deal, mostly because Wendys hasnt introduced a new Frosty flavor in years. The decrease was largely driven by leverage from menu price increases, which was partially offset by higher freight and beef costs. delivery MPI" represents average restaurant sales, as defined above, adjusted to remove the impact of delivery menu price increases. chipotle dessert 2021ashtoreth worship practices. 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 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. departure of our former Executive Chairman primarily related to his 2017 agreement. When you walk in, every single table is a mess; the custodians only clean at the end of the day. In the meantime, it sounds like the brand will continue to focus on what it does best: assembly-line burritos made from fresh ingredients, and charging extra for guac. 2,193 Sq. Chipotle will host a conference call to discuss third quarter 2021 financial results on Thursday, October 21, 2021, at 4:30 PM Eastern time. Chipotle ( CMG -0.90%) had a difficult year in 2020, to say the least. A Mexican chocolate shake? Chipotle (CMG) owes workers $151 million because of the violations, the city said. The thing is, however, it has no idea what that dessert will be. 1. The company made particular mention of possible new varieties of queso or guacamole (it will be extra of course). 2021 and December 31, 2020, respectively, Common stock, $0.01 par value, 230,000 shares authorized, 36,936 and 36,704 shares issued as Chipotle has reconfigured 12 existing restaurants to add a drive-thru, and the company revealed that those locations are experiencing an increase in sales. "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. Which is a shame, because they were specifically designed to make use of Chipotles current equipment and wouldnt have required elaborate or expensive ingredients (the dipping sauce appeared to vary between apple and chocolate). Use our app or website for takeaway or Deliveroo for delivery. The dessert option is reportedly 100% vegan. 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. Further details regarding these adjustments are included in the tables below. 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. Nearby Recently Sold Homes. 1. General and administrative expenses for the first quarter were $155.1 million on a GAAP basis, or $129.2 million on a non-GAAP basis, excluding $24.4 million for a modification to 2018 performance shares to account for the unplanned effects of COVID-19 and $1.6 million of transformation expenses. 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 . What is on the Chipotle Secret Menu? Season the pork roast with the salt and pepper. PRIZES/ODDS: Twenty One Thousand (21,000) prizes are available. 6) Getting closer to consumers: To drive brand visibility, . A portion of the desserts that it serves include buuelos, Chocolate Chipotle cake, etc . If a winner does not have a Chipotle Rewards account, the winner can create a free account at the time the prize is claimed. Until 03/06/2023. 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. Chipotle appears to be quietly looking at a new dessert option for its menu: mini churro loops dusted in cinnamon sugar . In the three months ended March 31, sales at restaurants open at least 13 months jumped 9% and total revenue grew 16% to. All entries must be received by the end of the Sweepstakes Period in order to participate. Theconference 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. Average restaurant sales, excluding delivery MPD, Operating lease asset impairment and other restaurant costs, Operating lease asset impairment and other office closure costs, Stock-based compensation modification expense, Do Not Sell or Share My Personal Information, California Transparency in Supply Chains Act, Privacy Policy, including California Privacy Rights, Comparable restaurant sales increased 15.2%, Digital sales grew 3.8% and accounted for 41.6% of sales, Operating margin was 8.1%, an increase from 7.3%, Restaurant level operating margin was 20.2%, Comparable restaurant sales increased 19.3%, Digital sales grew 24.7% and accounted for 45.6% of sales, Operating margin was 10.7%, an increase from 4.8%, Restaurant level operating margin was 22.6%, Over time, we believe there can be at least 7,000 Chipotle restaurants in. During the quarter, 26 of the 40 new restaurants included a Chipotlane. Chipotle chips contain high amounts of calories and unsaturated fats. Photo: Constantine Spyrou // Foodbeast. 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. 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. 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. (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. 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. In early 2020, Chipotle Mexican Grill CEO Brian Niccol looked at the company numbers and felt pretty excited about the momentum. As of today, Chipotle has begun testing its newest menu itema dessert! delivery MPI(2), Comparable restaurant sales increase 6. They even tried out buuelos, which ironically are not Mexican at all, but Colombian. underlying food and beverage sales per restaurant. After Chipotle stock grew more than 65% in 2020, it has. In Chipotle's mind, dessert would be another perfect opportunity for customers to spend a little more each time they visit. 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. ARBITRATION PROVISION: By participating in this Sweepstakes, each entrant (and any minor entrants parent or legal guardian) agrees: (i) that any and all disputes the entrant may have with, or claims entrant may have against, the Sweepstakes Entities relating to, arising out of or connected in any way with (a) the Sweepstakes, (b) the awarding or redemption of any prize, and/or (c) the determination of the scope or applicability of this agreement to arbitrate, will be resolved exclusively by final and binding arbitration administered by JAMS and conducted before a sole arbitrator in accordance with the rules of JAMS; (ii) this arbitration agreement is made pursuant to a transaction involving interstate commerce, and shall be governed by the Federal Arbitration Act (FAA), 9 U.S.C. The company announced its Q4 results Tuesday afternoon, which included a comp sales increase of 5.7%, a revenue increase of 11.6% and digital sales growth of 177.2% . 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. Of the 215 new restaurants opened during the year, 174 (or 81%) included a Chipotlane. It's For Real! Nearby Recently Sold Homes. Hence the addition of a new plant-based "rice" that's been trending in healthy eating for several years. Many will enter, but only up to Twenty One Thousand (21,000) prizes are available in this Sweepstakes. On a non-GAAP basis, the 2021 fourth quarter effective income tax rate was 18.7%2. 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. More From CouponFollow Access our guides, research, and other resources. Coconut CheesecakeWith passion fruit glazeMaple CheesecakeWith maple-cranberry compoteMaple-Gingerbread Layer CakeIn this delicious dessert, tender spice cake is layered with maple-sugar frostingGrand Marnier TartStrawberry Blossom TartRaspberry & ChampagneLayer CakeBittersweet Chocolate Turtle TartMini Banana Rum Fudge CakeChunky Apple . Wireless service providers may charge entrants for each text message, including any error message, that is sent and received in connection with the Sweepstakes. Toss in cinnamon and sugar Enjoy! (4) Costs for recruitment, relocation costs, third party and other employee-related costs. 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. The Sponsors database clock will be the official time-keeper for this Sweepstakes. "Average restaurant sales, excluding Heres 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. "As vaccines roll out and we get closer to moving past this pandemic, I believe Chipotle is well positioned for growth. Meanwhile, Chipotle isnt the only restaurant playing around with new menu options. 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. This barbacoa burrito bowl is the best throw-together meal with layers of classic Mexican flavors. Chipotle Order Now DELIVERY AND PICK-UP AVAILABLE Order Chipotle with the click of a button? (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. No need to remove the stems at this point. (decrease). restructuring costs of $153. It involves market research, menu development, recipe testing, price determination, test marketsthe list goes on. Adjusted General and Administrative Expenses, Stock-based compensation modification expense(3), Adjusted general and administrative expenses. 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. Beyond the investments made in our people, restaurants, and supply chain, we are closely following the recommendations of the CDC and local health departments and have implemented social distancing, wearing face masks, a tamper evident packaging seal for all digital orders, as well as creating the steward role to sanitize high-traffic areas. For 2. 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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