Chipotle axes its new concept

Article Excerpt

CHIPOTLE MEXICAN GRILL, $3,168.30, is a buy. The company (New York symbol CMG; TSINetwork Rating: Extra Risk) (Shares outstanding: 27.5 million; Market cap: $87.0 billion; No dividends paid) launched a new restaurant spinoff early last year called Farmesa that featured “California-inspired” bowls. The virtual restaurant made its debut in Santa Monica, California. However, Chipotle has now announced that it is no longer pursuing the development of Farmesa Fresh Eatery. The company did not explain why it decided to end the concept. It did, however, say it would now focus on expanding its core Chipotle business—including internationally. Chipotle Mexican Grill is a buy. buy. …