Chipotle Mexican Grill Inc. reports revenue for the first half of 2009 increased 15.0 percent to $743.3 million. Net income for the six months ended June 30, 2009 was $60.8 million compared to $41.8 million during the same period last year. The Denver-based company opened 50 new restaurants during the six months ended June 30, 2009 and as of June 30th operated 886 restaurants. Chipotle plans to add a total of 120 to 130 new restaurants this year.
“We are pleased with our financial results in the second quarter, as we were able to produce industry leading margins that were the highest Chipotle has ever achieved,” said Founder, Chairman and Co-CEO Steve Ells. “But I’m even more pleased with the recent increased interest in how food in this country is raised, with the release of the critically acclaimed documentary ‘Food, Inc.’, continuing media attention to related issues, and pending legislation that would ban the sub-therapeutic use of antibiotics in livestock. Chipotle continues to be a leader on these issues, and we believe that greater curiosity and transparency about how food is raised will result in consumers becoming more discerning and more demanding about the food they eat, which ultimately will result in a greater appreciation for our Food With Integrity efforts.”
Read the full release from Chipotle.