Chipotle (CMG) reported second-quarter earnings, which beat expectations on both the top and bottom lines. BTIG Managing Director and restaurant analyst Peter Saleh shares his thoughts on Chipotle’s future on Wealth!
Saleh believes Chipotle’s growth will come from opening new stores and attracting more customers. He says this has been "the foundation of their growth" and expects it to continue. Even though Chipotle won’t raise prices, Saleh says "they don’t need to raise price to drive comp." He sees Chipotle as "a best in class operator" with "a lot of growth ahead of them."
Addressing complaints about bowl and portion sizes, Saleh mentions Chipotle is spending "a modest amount of margin" to fix the issue. He told Yahoo Finance, "I don’t think that’s the end of the world, it kind of quells the social media issues so I think it’s probably the right thing for them to do."
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