Topic: How To Invest

Power Growth Investor Hotline – Friday, February 10, 2023

Article Excerpt

CHIPOTLE MEXICAN GRILL INC., $1,583.89, remains a buy. The stock (symbol CMG on New York) lets you tap this Mexican restaurant chain, headquartered in Denver. The company is a fast-food leader charging slightly higher prices than its competitors but offering better quality food, including naturally raised meat. In the quarter ended December 31, 2022, sales were up 11.2%, to $2.18 billion from $1.96 billion a year earlier. Comparable sales rose 5.6%. Per-share earnings rose 48.6%, to $8.29 from $5.58, along with the increased sales and lower costs. The company opened 100 new restaurants in the latest quarter (for a total of 3,187) including 90 with drive-thru Chipotlanes. Those are convenient for customers, boost restaurant sales, and improve profit margins. Meanwhile, the company continues to raise its menu prices to offset higher food, beverage, packaging and labour costs. With its continued digital strategies, as well as making moves to attract and retain workers, the company thrived despite the coronavirus pandemic. That bodes well for…