Chipotle Reports Solid Fourth Quarter, 2010 Results

Chipotle Mexican Grill (Denver) reports revenue increased 24.5 percent and comparable restaurant sales grew 12.6 percent for the fourth quarter of 2010. For the year ended Dec. 31, 2010, revenue was up 20.9 percent while comparable restaurant sales were up 9.4.

“Our accomplishments in 2010 were many – opening our first restaurant in London, hitting the 1,000 restaurant milestone, and serving naturally raised barbacoa in all of our restaurants – just to name a few,” says said founder, chairman and co-ceo Steve Ells. “All of our accomplishments were made possible by remaining focused on our vision to change the way the world thinks about and eats fast food.”

During the quarter, Chipotle opened 62 new restaurants, bringing the total restaurant count to 1084. For the full year, the food chain opened 129 restaurants, including one restaurant in London and one in Toronto.