Chipotle Mexican Grill is looking to ramp up expansion as it raises its long-term restaurant potential by a considerable number.
The Mexican quick-serve chain, which owns and operates all its restaurants, raised its long-term forecast for the number of restaurants it can operate in North America to 7,000 locations, up from its prior goal of 6,000. Chipotle, which announced the news in its earnings release, said it was “raising the targetbased on the success of small-town locations that are delivering unit economics at or better than traditional Chipotle locations.”