Chipotle CEO on Future of Fast-Casual Dining

The transcript discusses Chipotle's unexpected traffic growth and sales increase, driven by new menu items and improved staffing. The company plans to open numerous new locations, focusing on both existing and new markets. Staffing and training are emphasized to support expansion. Labor costs have normalized, and the company is prepared for potential economic downturns. Ingredient costs have moderated, except for beef. Chipotle faces challenges operating in California due to regulatory hurdles.

What factors contributed to the unexpected traffic growth reported by Chipotle?

How does Chipotle plan to expand its number of locations in the coming year?

How has the labor market affected Chipotle's hiring and staffing strategies?

What strategies has Chipotle implemented to ensure effective staffing at new locations?

In what ways does Chipotle differentiate itself from competitors in the fast casual dining space?

What is Chipotle's approach to managing ingredient costs, particularly for proteins and avocados?

What challenges does Chipotle face in the California business climate?