Latest news with #NateLawton
Yahoo
24-04-2025
- Business
- Yahoo
Chipotle Is Finally Taking Its Guac Game South of the Border
California-based Chipotle Mexican Grill announced plans to open new restaurants in a location you may have already thought it was. On Monday, April 21, the chain revealed its plans to develop new restaurants in Mexico as part of its partnership with Alsea, a restaurant operator in Latin America and Europe. According to the announcement, fans can expect the first Chipotle to open in Mexico by early 2026. It's also exploring additional markets for expansion in the region. "We are confident that our responsibly sourced, classically-cooked real food will resonate with guests in Mexico," Nate Lawton, the chief business development officer at Chipotle, shared in a statement. "The country's familiarity with our ingredients and affinity for fresh food make it an attractive growth market for our company." Related: Chipotle Is Investing $100 Million in the Future of Food — and Is Open to Your Ideas This is just the latest in Chipotle's global expansion plan, with the fast-food chain signing its first international development agreement in 2023 to open restaurants in the Middle East with the Alshaya Group. The company noted in its statement that it currently operates three restaurants in Kuwait and two in the United Arab Emirates. The chain also highlighted it has "58 locations in Canada, 20 in the United Kingdom, six locations in France, and two in Germany," making it possible to enjoy a bowl with extra guac all over the world. Additionally, it shared that it has a "long-term target of operating 7,000 locations in the U.S. and Canada" to further expand its reach in North America."We are proud to work with an iconic brand like Chipotle and help grow its international business for years to come," Armando Torrado, the chief executive officer of Alsea, shared about the new partnership in Mexico. "Through this development agreement, we will continue to leverage our vast knowledge of the Mexican consumer and restaurant industry expertise to bring our customers the best food experiences and brands from around the world." As for what else Chipotle has going on, in March, it announced that it is bringing Chipotle Honey Chicken to its locations in North America and Europe for a limited time. As the brand shared with Food & Wine at the time, the limited menu item "perfectly balances unique heat from chipotle peppers and a touch of sweetness from pure wildflower honey." So go get it while you can — you don't even have to take a plane to try it. Read the original article on Food & Wine Sign in to access your portfolio
Yahoo
23-04-2025
- Business
- Yahoo
Analysts reboot Chipotle stock price targets ahead of earnings
After 32 years in business, Chipotle Mexican Grill () is heading south of the border, down Mexico way. The Mexican restaurant chain said on April 21 that it had signed a development agreement to open restaurants in Mexico for the first time. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰 Chipotle is partnering with Alsea, which operates Latin American and European locations of Starbucks, Domino's Pizza and Burger King, among other chains. The Newport Beach, Calif., company said it would open a location in Mexico by early next year and explore additional expansion markets in the region."We are confident that our responsibly sourced, classically cooked real food will resonate with guests in Mexico," Nate Lawton, Chipotle's chief business development officer, said in a statement. "The country's familiarity with our ingredients and affinity for fresh food make it an attractive growth market for our company," he said. Of course, Chipotle's timing may not be so good, given President Donald Trump's tariff plans, which would slap levies on a veritable laundry list of countries, including Mexico. Earlier this month, Trump announced a 90-day pause on the tariffs. Avocados from Mexico were originally subject to a 25% tariff until Trump paused new duties on goods compliant with the United States-Mexico-Canada Agreement. More Restaurants Bankrupt restaurant chain offers new deal, stiff drink Iconic American restaurant chain closing dozens of locations Notorious restaurant chain launches late-night delivery Chipotle has diversified its avocado sourcing in recent years, but the company still imports about half its avocados from Mexico. Avocados are a staple ingredient in Mexican cooking, particularly in dishes like guacamole, and are used in a variety of other ways, including as a topping for salads and tacos. In addition, the U.S. Commerce Department recently said it planned to withdraw from a 2019 agreement that suspended an investigation into whether Mexico was selling fresh tomatoes into the U.S. below its cost. The termination is set to take effect July 14, meaning most tomatoes from Mexico will be subject to a 20.91% tariff. Chipotle will following in the unsuccessful footsteps of Taco Bell, which tried to crack the Mexican market on two separate occasions. In 1992, the Yum! Brands () subsidiary launched a food cart in the country's capital, Mexico City, but it never caught on, according to Chowhound. Taco Bell tried again in 2007, in Monterrey, a city close to the Mexican-American border, and tried to position itself as an American food brand with some Mexican-inspired items. But the location was open for only three years and closed in announcement was greeted with a healthy serving of snark on social media. "This is akin to opening a Panda Express in Beijing," one person said on X. But one person thought the restaurant chain's plan was a good idea. "Chipotle's expansion into Mexico is a smart move, given the country's growing appetite for fast-casual dining and its proximity to the US market," the commenter said. Chipotle is scheduled to report earnings on April 23. The chain's shares are down 23% since January and off 19% from a year ago. Analysts expect Chipotle to report profit of 28 cents a share, up 1 cent from the year-earlier period, while revenue is forecast to increase 8.7% to $2.94 billion. Investment firms have been issuing research reports on Chipotle. Bank of America lowered its price target on Chipotle to $64 from $71 and affirmed a buy rating on the shares. "Our $64 price objective is based on earnings power," the investment firm said. "At the current unit growth rate, we think Chipotle should be able to reach its targeted 8,000-store count in roughly seven years." At the end of 2024 Chipotle operated more than 3,700 restaurants. B of A is fine-tuning its estimates for more than 20 companies across its restaurant coverage. And it's adjusting price targets to reflect estimate and market-multiple changes as part of its calendar-Q1 preview for the April 16, Raymond James lowered its price target on Chipotle to $60 from $66 and maintained an outperform rating on the shares as part of its Q1 preview for the restaurant group, according to The Fly. The investment firm maintains a "selective stance" toward restaurant stocks heading into Q1 earnings. It expects "choppy" Q1 results from the group. Raymond James said the sector results would reflect wider gaps between stocks that rise and those that fall; tariff updates reflecting a relatively low direct-cost and margin impact for U.S. domestic restaurants, and caution from most management teams regarding the U.S. macroeconomic outlook and international trends. UBS analyst Dennis Geiger lowered the investment firm's price target on Chipotle to $65 from $70 and reiterated a buy rating. Despite expected sales pressure year-to-date and a difficult setup into the Q1 earnings, Chipotle should see continued traffic and sales momentum longer term, with sales and margins positioned more favorably in the second half, the analyst said. The company remains positioned for positive transaction growth longer-term and continuing opportunities to expand margins and speed up development of new stores, Geiger in to access your portfolio
Yahoo
23-04-2025
- Business
- Yahoo
Chipotle heads south of the border, announcing first restaurant in Mexico despite Trump tariff war
At a time when many fast-casual chains are struggling to get customers in the door, and rethinking their next moves both at home and internationally due to Trump's trade wars, Chipotle Mexican Grill is expanding. Housing market shift: 60 major markets are now seeing falling home prices What's behind the rise in interim CEOs College presidents from 170 schools including Harvard and Princeton sign letter rebuking Trump administration 'overreach' The fast-casual restaurant announced on Monday that it signed a development agreement with Alsea to open its first location in Mexico early next year. Alsea operates the Latin American and European locations of a number of food and beverage chains, including Starbucks, Domino's Pizza, and Burger King, according to CNBC. Chipotle also indicated plans to explore 'additional expansion markets in the region,' signaling further locations in Latin America. 'We are confident that our responsibly sourced, classically cooked real food will resonate with guests in Mexico,' Nate Lawton, chief business development officer at Chipotle, said in a statement. 'The country's familiarity with our ingredients and affinity for fresh food make it an attractive growth market for our company.' The fast-casual chain, which currently operates more than 3,700 restaurants, also reiterated its plans to open between 315 and 345 new restaurants this year, with a long-term target of operating 7,000 locations in the U.S. and Canada. The popular chain opened 304 new restaurants in 2024, its most openings in a single year. (In 2023, it opened 271 locations, and in 2022, 200 restaurants.) And this is not Chipotle's first foray beyond the U.S. borders. It operates 58 locations in Canada, 20 in the United Kingdom, six in France, and two in Germany. In 2023, it signed its first international development agreement with Alshaya Group to open restaurants in the Middle East; as a result, it now operates three restaurants in Kuwait and two in the United Arab Emirates. Last year, many beloved U.S. fast-casual and restaurant chains struggled to stay afloat, while many others shut down or filed for bankruptcy. The majority of Wahlburgers locations shut down in January, and fast-casual chain Roti has filed for Chapter 11 bankruptcy protection, as have both Red Lobster and Buca di Beppo. This post originally appeared at to get the Fast Company newsletter:
Yahoo
22-04-2025
- Business
- Yahoo
Chipotle is going to Mexico for the first time
A 'Mexican' restaurant chain is coming to Mexico. Chipotle (CMG) — the self-appointed 'Mexican Grill' known for its burrito bowls, carnitas, and three-taco assembly-line suppers — has not made inroads south of the border even though the chain features south-of-the-border-themed fare. That's something the U.S. brand intends to change, as it moves to open its first Mexico location in early 2026. 'We are confident that our responsibly sourced, classically-cooked real food will resonate with guests in Mexico,' said Nate Lawton, Chief Business Development Officer at Chipotle. 'The country's familiarity with our ingredients and affinity for fresh food make it an attractive growth market for our company.' Chipotle is partnering with Alsea SAB — a restaurant company that has brought brands such as the Cheesecake Factory, Starbucks (SBUX), and Burger King (QSR) to Latin America. And Chipotle won't be the firm's first Latin American-inspired American brand; Alsea also operates Chili's (EAT) in Central and South America. (Chipotle's burritos, however, would more accurately be described as clones of those found in San Francisco's Mission District.) Chipotle has been on a hot streak of sorts, with analysts expecting CMG to report a profit of $0.28 per share on a diluted basis, which is up 3.7% from $0.27 per share in the year-ago quarter. The company has exceeded Wall Street's EPS estimates in its last four quarterly reports. 'This seems like an especially good strategy for the fast-casual chain to be pursuing right now, given both the company's current aggressive plans for international growth, as well as tariff-driven cost increases domestically,' says Roger Beahm, executive director of the Center for Retail Innovation at Wake Forest University School of Business. 'While other chains may choose to exercise caution in the face of an uncertain international trade environment, this announcement demonstrates Chipotle's willingness to back up its words with actions,' Beahm says. He also says that with local sourcing of ingredients, Chipotle's price point shouldn't be too painful for customers in Mexico. 'Given the cost of produce imported from Mexico to the U.S. is now expected to increase due to higher tariffs, opening restaurants in Mexico should allow the restaurant chain to keep its in-country menu prices there relatively lower — and that's good for an introductory business,' Beahm says. He adds that given the restaurant chain's reliance on produce grown in Mexico, one way to hedge against higher costs in markets like the U.S. is to open restaurants close to the source. 'In essence, it shortens the supply chain considerably and makes 'from farm to fork' a local reality for Chipotle guests in Mexico,' Beahm says. For the latest news, Facebook, Twitter and Instagram.
Int'l Business Times
22-04-2025
- Business
- Int'l Business Times
Chipotle to Open First Mexican Restaurant, Despite Trump's Tariff Threats
Chipotle Mexican Grill is opening its first restaurant in Mexico by early 2026, marking a major step in the company's plan to grow beyond the US, even as trade tensions between the two countries linger. The popular US-based fast-casual chain announced on Monday that it has teamed up with Alsea, a company that already runs restaurants like Starbucks and Domino's Pizza across Latin America and Europe. This partnership will help bring Chipotle's menu of burritos, bowls, and tacos into the heart of the cuisine that inspired it. After the first restaurant launches, Chipotle and Alsea will look at the possibility of expanding into more Latin American countries. The move comes as former President Donald Trump's tariff threats on goods from Mexico continue to create uncertainty. Avocados, one of Chipotle's key ingredients, were once at risk of facing a 25% import tax, NBC News said. Although those plans were paused, Chipotle still brings in about half of its avocados from Mexico, despite efforts to buy from other places. Chipotle Targets Mexico for First Latin American Location Nate Lawton, Chipotle's Chief Business Development Officer, shared why the company believes Mexico is the right place to grow next. "We are confident that our responsibly sourced, classically-cooked real food will resonate with guests in Mexico," he said. "The country's familiarity with our ingredients and affinity for fresh food make it an attractive growth market for our company." While the company is hopeful, not all American brands have been successful in Mexico. Taco Bell, for example, has tried to enter the market twice but didn't last. Chipotle is aiming to differentiate itself by prioritizing the use of high-quality ingredients and freshly prepared food. Chipotle's expansion into Mexico follows its earlier steps into other global markets. Chipotle now operates restaurants in several international markets, including Canada, the United Kingdom, France, Germany, Kuwait, and also in the United Arab Emirates. In 2023, the company took a major step in its global expansion by forming its first international partnership with the Alshaya Group, helping to introduce the brand to the Middle East. According to Benzinga , Chipotle continues to grow its global footprint, currently operating over 3,700 restaurants around the world. Looking ahead, the company has announced plans to significantly increase its presence by opening up to 345 new locations in 2025. This expansion is part of a broader long-term vision to eventually reach 7,000 restaurants across the United States and Canada. Originally published on
