A bright spot amidst all the negative news is that Chipotle Mexican Grill is accelerating store openings across the U.S to capitalize on digital ordering & drive-thru purchases that have grown during the pandemic. The California-based fast-casual chain, which has >2,600 restaurants nationwide w/large concentrations in the West, said digital orders surged 216% from 2019 to reach a company record $829M in the 2nd quarter. Even as the company reported revenue for the quarter ended June 30 fell 4.8% from the year-earlier quarter to $1.4B, w/same-store sales declining 9.8%. Locations with “Chipotlane” pickup windows outperformed those w/out drive-thru lanes by as much as 30%. Chipotle owns its restaurants rather than franchise them, recently opened its 100th Chipotlane near Columbus, Ohio. It also announced plans to hire 10,000 new workers over the next few months, largely to accommodate a surge in digital orders. Advance pickup orders are accounting for 61% of all their sales in the latest quarter. 13 Chipotlane-equipped restaurants that are in the comparable-sales base & opened well before the pandemic, sales were 10% higher than those for non-Chipotlane locations. #retailspecialist #retailtenants #tenantrepresentation #landlordrepresentation #commercialagent #commercialbroker #mallrepositioning #realestatenews #realestateguru #restaurant #restaurants #drivethru #fastfood #fastfoodchain https://www.instagram.com/p/CDKGHivJG9J/?igshid=evcffqhb9rhy
