Chipotle's long-term store expansion target is to operate at least 7,000 restaurants in North America, up from its prior goal of 6,000. This goal reflects the company's optimism about its long-term prospects to further penetrate its key market.
Chipotle opened 47 new restaurants in Q1 2024, with 43 of them featuring a Chipotlane. This expansion aligns with the company's goal to open between 285 to 315 new restaurants for the year, with over 80% having a Chipotlane.
Chipotle's 50-for-1 stock split occurred on June 26, 2024. Shareholders who owned the stock as of the market close on June 18 received 49 additional shares for each one held.