Chipotle Mexican Grill beat analysts' estimates year-over-year in revenue and earnings per share in Q4, and it plans to open more stores in small towns.
revenue of $2 billion for the fourth quarter of 2021, a 22% increase from the same quarter the year before that topped Wall Street's estimate of $1.6 billion. Earnings per share were at $5.58 for the quarter, beating analysts' expectations of $5.25 and showing a 60% increase from the $3.48 in Q4 2020.
, Chipotle announced that it had updated its long-term development plans and aims to have 7,000 restaurants in North America, up from its previous goal of 6,000 "based on the success of small-town locations that are delivering unit economics at or better than traditional" locations.During 2021, Chipotle saw itssales – including orders delivered by third parties and those picked up at store locations by customers – grow 24.7% to account for 45.6% of all sales.
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