(MT Newswires) -- Brian Niccol, CEO of Chipotle Mexican Grill, reports an 8% increase in sales and anticipates continued growth for 2024. The company is seeing sales increases across all income categories, appealing even to low-income consumers thanks to its attractive value for money. This momentum is partly due to the optimisation of operations and acceleration of service, key factors in winning new market share.
 
In response to rising minimum wages, especially in California, Niccol says Chipotle is turning to automation, such as the integration of robots for avocado preparation, to limit the impact on prices. Despite a slowdown in raw material inflation, price adjustments could be envisaged towards the end of the year to offset wage increases.
 
Niccol is aiming to double the number of outlets in the chain and achieve average sales per unit of $4 million, reflecting Chipotle's growth ambitions.

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