Chipotle Mexican Grill Sees FY24 Comparable Restaurant Sales Growth In The Mid To High-Single Digit Range; 285-315 New Restaurant Openings With Over 80% Having A ChipotLane; An Estimated Underlying Effective Full Year Tax Rate Between 25%-27% Before Discrete Items
Portfolio Pulse from Benzinga Newsdesk
Chipotle Mexican Grill (CMG) has provided its outlook for FY24, expecting comparable restaurant sales growth in the mid to high-single digit range, 285-315 new restaurant openings with over 80% featuring a ChipotLane, and an estimated underlying effective full year tax rate between 25%-27% before discrete items.
July 24, 2024 | 8:12 pm
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Chipotle Mexican Grill (CMG) has provided a positive outlook for FY24, expecting comparable restaurant sales growth in the mid to high-single digit range, 285-315 new restaurant openings with over 80% featuring a ChipotLane, and an estimated underlying effective full year tax rate between 25%-27% before discrete items.
The positive outlook for FY24, including sales growth and new restaurant openings, is likely to boost investor confidence and positively impact CMG's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100