Brian Niccol

Chipotle announced Tuesday it has signed an agreement with Kuwait-based Alshaya Group, its first-ever franchise partner, to open locations in the Middle East next year.Chipotle currently has just over 50 locations in Canada and Europe. All are company owned and operated, as are its roughly 3,200 U.S. locations. The Alshaya agreement marks the first time Chipotle has enlisted a local franchise retail operator as it moves into a new market.related investing newsChipotle CEO Brian Niccol told CNBC in an interview that the…

Chipotle Mexican Grill is launching a new spinoff, called Farmesa Fresh Eatery, in a California ghost kitchen.It's the latest attempt by the burrito chain to branch out into new cuisines. Its past spinoffs — Asian ShopHouse and Tasty Made — occurred under founder Steve Ells' leadership and were shut down by 2017. The company also invested in Pizzeria Locale.Farmesa marks the first such experiment during CEO Brian Niccol's tenure, and the company is taking a more measured approach this time around, leaning on its…

Chipotle Mexican Grill Inc. CMG 2.47% said consumer demand remained strong for its burritos and bowls even after it raised prices again in recent months, though the chain’s chief executive said inflation is wearing on some consumers. The burrito chain said Tuesday its same-store sales grew 7.6% in the third quarter ended Sept. 30 compared with the same period last year. Higher prices helped drive some of the increase, with its average…

Chipotle Mexican Grill on Tuesday reported quarterly earnings that topped analysts' expectations on the strength of its latest round of menu price hikes.CEO Brian Niccol said the company saw "minimal resistance" to higher menu prices during the quarter, although transactions declined 1%. Even with the price hikes, he noted the average price for a chicken burrito bowl, which accounts for about half of U.S. orders, is still under $9.Here's what the company reported compared with what Wall Street was expecting, based on a…

Chipotle Mexican Grill is testing Chicken Al PastorSource: Chipotle Mexican GrillChipotle Mexican Grill is cranking up the heat on its grilled chicken. The restaurant chain said Tuesday it's testing a new chicken al pastor menu item in 94 restaurants across the Denver and Indianapolis regions.The al pastor option is spicier than Chipotle's standard chicken option. It's grilled and seasoned with a marinade of the chain's signature adobo, morita peppers, ground achiote and a splash of pineapple.It's the second time in less…

Howard SchultzDavid Ryder | ReutersSome restaurants are reporting weaker sales or declining traffic in the second quarter, signaling that diners are cutting back on eating out to save money.But CEOs are split on how consumer behavior is changing and whether it's impacting their companies.McDonald's Chris Kempczinski and Chipotle Mexican Grill's Brian Niccol are among those who told investors that low-income consumers are spending less money at their locations, while higher-income customers are visiting more frequently.…