Chipotle CEO confirms 345 new locations and promises return of beloved item

CHIPOTLE’S CEO has confirmed 345 new restaurants will open nationwide by the end of the year.

The restaurant chain’s expansion move is outpacing some top competitors in the fast food industry.

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At least, that’s what CEO Scott Boatwright noted during Chipotle’s first-quarter earnings call on Wednesday.

Boatwright told investors the restaurant openings would “surpass the size and scale of most of our competitors.”

While 345 is the target goal, Chipotle noted a range between 315 and 345 for the openings by 2026, with at least 80% including a Chipotlane.

Chipotlanes are notable drive-thrus where customers can pick up mobile or online orders they placed ahead of time.

Internationally, Boatwright also noted that the company will add about 15 to 20 new restaurants in Canada and another five in the Middle East.

He added that Chipotle had also reached a new development partnership agreement with Alsea, a leading restaurant operator in the region, to bring restaurants to Mexico.

While no exact timeline or quantity was divulged for the openings, the CEO noted that Chipotle would work on opening the locations in the country in 2026.

Boatwright also emphasized that Chipotle had battled through changes in consumer spending habits over the past few months.

“While our first quarter results were impacted by several headwinds, including weather and a slowdown in consumer spending, our teams continue to make significant progress improving the execution in our restaurants, innovating our back of house, and building Chipotle into a global iconic brand,” he noted on the call.

Still, he expressed confidence about customer foot traffic throughout the rest of the year, as Chipotle has kept the cost of its most popular items, chicken-based burritos and burrito bowls, under $10 on average.

That’s about 30% less than some rivals, per the CEO.

“I am confident that we have a strong plan to return to positive transaction comps by the second half of the year, and during these uncertain times, we will continue to invest in the things that make Chipotle a special brand — our people, culinary, value proposition, innovation and growth,” Boatwright said.

TARIFF TALK

The expected effects from the global reciprocal tariffs announced by the Trump administration earlier in April were also discussed by Chipotle CFO Adam Rymer.

Rymer said some sales increases predicted for later this year would likely be offset by “higher inflation across several items, the normalization of avocado prices, and the impact of the newly enacted tariffs…”

“We estimate these tariffs will have an ongoing impact of about 50 basis points, and due to inventory on hand, we anticipate a 20 basis point impact in Q2, which is included in our guidance,” he added.

Rymer explained that the estimates don’t “include any impact from the tariffs that were postponed” via Trump’s 90-day pause “or the 25% tariffs on Mexico and Canada.”

BACK AGAIN SOON?

Customers might also be eager to know that they could soon see the Chipotle Honey Chicken offering again when it disappears from menus soon.

After tests in 2024, it’s been available to order at the chain’s restaurants since March 6, 2025.

Boatwright noted on Wednesday’s earnings call that the Chipotle Honey Chicken had been such a success that the company was “confident to bring it back in the future.”

There’s been no confirmed exit date for when Chipotle Honey Chicken, but it’s likely to remain around through May.

Chipotle has also caught attention for other reasons in recent months.

In March, rumors sparked online about the restaurant chain potentially filing for bankruptcy after some closures.

The company also brought back its Vault game this month, which lets customers have a chance at free burritos for a year.