• by Teresa Buyikian , October 30, 2023

In its Q3 earning report, Chipotle said overall revenue increased 11.3% to $2.5 billion, and comparable restaurant sales increased 5.0% over the previous period.

Chairman and Chief Executive Officer Brian Niccol discussed the company’s key strategies, with an emphasis on people and brand awareness, in an earnings call.

He cited an “accountable culture …sustaining world-class people leadership by developing and retaining diverse talent at every level,” and "making the brand visible[and] relevant, amplifying technology and innovation to drive digital growth and productivity at our restaurants and support centers" and "expanding access and convenience by accelerating new restaurant openings.”

To highlight the chain’s commitment to its people, Niccol referred to the most recent Chipotle ad campaign, “Behind the Foil.” The spots provide “a glimpse into daily preparation with crew members using real ingredients and classic culinary techniques, [which] is a key differentiator for Chipotle,” he said. “This campaign is a great way to put a spotlight on our teams and their hard work."

Niccol continued the focus on employees in the chain’s growth, “Our people are our greatest asset and developing future leaders is critical (to) delivering on our growth goals of reaching 7,000 restaurants longer-term,” he noted.

He also cited the chain’s sports integration, the Real Food for Real Athletes platform, which “partnered with players and teams to showcase their inspiring journeys, their love for Chipotle and how our food can help them perform their best by providing proper nutrition.”

He added that “Similar to [our] strategy when we first entered new markets in the U.S., we were building brand awareness in Europe by more local initiatives like partnering with local universities, local sports teams and focusing on activities which gets our food into the hands of potential guests."

Another way Chipotle has stood out from the competition is with the successful relaunch last month of Carne Asada as a limited time offer. The “reception has surpassed our expectations,” said Niccol. He did highlight the difficulties, since "we estimate only about 5% of U.S. beef meets our food with integrity standards.”