Sales grew 3% year-over-year to $3.1B, driven by new restaurant openings, while comparable sales declined 4% due to a 4.9% drop in transactions, partially offset by a 0.9% increase in average check.
Net income for Q2 was $436.1M, or $0.32 per diluted share, down from $455.7M and $0.33 per share a year ago; adjusted diluted EPS was $0.33, down 3%.
Opened 61 new restaurants, including 47 with Chipotlanes, bringing total company-owned locations to 3,839.
Digital sales accounted for 35.5% of total sales.
Operational improvements and marketing initiatives, such as produce slicers and Summer of Extras, aimed to boost efficiency and engagement.
Q2 sales reached $3.1B, up 3% year-over-year, with a 4% decline in comparable sales.
Restaurant-level margin was 27.4%, down 150 basis points from last year; operating margin decreased to 18.2%.
Adjusted diluted EPS was $0.33, a 3% year-over-year decline; GAAP EPS was $0.32.
Cost of sales was 28.9%, down 50 basis points year-over-year, aided by menu price increases and efficiencies.
Labor costs rose to 24.7% of sales, up 60 basis points, mainly due to lower volumes and wage inflation.
Comparable sales expected to be flat for full-year 2025 due to ongoing volatility in consumer trends.
Plans to open 315 to 345 new company-owned restaurants in 2025, with at least 80% featuring Chipotlanes.
Q3 cost of sales projected in the high 29% range, with ongoing tariff and mix impacts.
Labor costs for Q3 expected in the high 24% range; marketing costs to be in the mid-2% range for Q3 and high 2% for the year.
Long-term confidence in returning to mid-single-digit comp growth and surpassing $4M in AUVs.
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Chipotle Mexican Grill is a popular fast-casual restaurant chain that specializes in Mexican cuisine. The company is known for its focus on high-quality ingredients and sustainable practices. Chipotle's menu features a variety of customizable burritos, bowls, tacos, and salads, with options for vegetarians and vegans.
The company's commitment to using fresh, locally sourced ingredients has earned it a loyal following of customers who appreciate the quality of its food.
Chipotle operates through two main business segments: Restaurants and Other. The Restaurants segment includes all of the company's restaurant operations in the United States and internationally. The Other segment includes the company's non-restaurant operations, such as catering and delivery services.
Chipotle operates over 3,000 restaurants in the United States, Canada, the United Kingdom, France, and Germany. The company has a strong presence in the fast-casual restaurant industry, with a focus on providing a high-quality dining experience that is also affordable.
The company was founded in 1993 in Denver, Colorado, by Steve Ells, who originally intended to open a fine-dining restaurant. However, the success of Chipotle's first location, which offered a limited menu of burritos, tacos, and salads, led the company to focus on fast-casual dining. Chipotle was actually one of the first in the fast-food industry to offer digital ordering and payment options.
The company has also been recognized for its innovative marketing campaigns, such as its "Scarecrow" campaign that highlighted the importance of sustainable agriculture.
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