After an incredibly successful first quarter of 2024, Chipotle has proposed opening a new location north of the northeast corner of Higley and Chandler Heights Roads.
The company recently proposed a 2,473-square-foot Chipotle restaurant with a drive-thru on a 1.2-acre site, according to the commercial real estate website Vizzda, first reported by the Daily Independent. A use permit request and a design review request for the restaurant were presented to the Gilbert Planning Commission meeting at the beginning of the month. There is no timeline for the fast-casual restaurant, which already has dozens of locations across The Valley.
The proposal proves the international chain has no intentions of slowing down, and for good reason, as Chipotle released its numbers for the first quarter of 2024, which ended on March 31. Total revenue in the first quarter was $2.7 billion, an increase of 14.1% compared to the first quarter of 2023. The increase in total revenue was driven by new restaurant openings, including 47 new restaurants during the first quarter, with 43 locations, including a Chipotlane. In 2024, Chipotle expects to open 315 new restaurants this year, with 80 percent having Chipotlanes, translating to about 285 new locations with that feature. In other words, Chipotle will continue to expand throughout the country, including this new proposed Gilbert site.
“We had another outstanding quarter driven by our improvement in throughput and successful marketing initiatives, including Braised Beef Barbacoa and Chicken Al Pastor, which drove strong sales and transactions,” Brian Niccol, Chairman and CEO of Chipotle, said in a press release. “The results we are seeing from our focus on developing exceptional people, preparing delicious food, and fast throughput gives me confidence that we can achieve our long-term target of more than doubling our business in North America and expanding internationally.”
