Chipotle Mexican Grill Inc at Barclays Eat, Sleep, Play Conference Transcript

Dec 01, 2021 / 05:00PM GMT
Jeffrey Andrew Bernstein - Barclays Bank PLC, Research Division - Director & Senior Equity Research Analyst

Good afternoon, the clock just struck past lunch time. Thank you for joining us today. My name is Jeff Bernstein, and I'm the restaurant and food service distribution analyst at Barclays. I'm thrilled to introduce our next presenting company, Chipotle. With us this afternoon from -- mostly from Newport Beach, California, we have Brian Niccol, Chairman and CEO; Jack Hartung, CFO; and Ashish Kohli, Global Head of Investor Relations.

By way of background, for those not familiar, Chipotle is what we would say, is the fast-casual pioneer with 2,900 or so U.S. units. Impressively, the year we're about to end 2021, costs are expected to be in the high teens. And unit development continues to be amongst the strongest in the industry, reaching high single-digit growth this year and something new to say is the vast majority of the new openings are featuring a drive-through.

So with that said, I want to thank Brian, Jack and Ashish for joining us.

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