Moneybox: Chipotle Is Apple

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Moneybox Chipotle Is Apple The burrito chain is revolutionizing food: Why doesn't it get more respect? By Matthew Yglesias Posted Thursday, Feb 09, 2012, at 06:01 PM ET Hunting for business success stories in a recession is a difficult (and sometimes depressing) task. Most of the feel-good stories seem to come from the high-tech world and the burgeoning app economy. One important exception is Chipotle Mexican Grill, a company that shows there's clearly room for growth and innovation in even the most basic sectors of the economy. Anyone who has walked a city block (or driven a suburban one) in recent years knows that Chipotles have been springing up around the country. But the numbers need to be seen to be believed. They opened 67 new stores in the fourth quarter of 2011, growing by just over 5 percent to 1,230 total outlets. They opened the first Chipotle in London, and launched their second restaurant concept, the Southeast Asian-themed ShopHouse, whose initial location has quickly become a lunchtime favorite for those of us who work in the nearby Slate D.C. office. Chipotle stock is up 50 percent on the year and over 500 percent over five years, far outperforming the market as a whole or the restaurant sector in particular. They announced last week that revenue grew 23.7 percent in 2011, with an 11 percent increase in same-store revenues. Restaurant operating margins are more than 25 percent. Yet the food service industry can't seem to get any respect. Politicians don't name-drop burrito innovators as examples of the kind of entrepreneurs they want to encourage, and despite food's ubiquity in our lives ... To continue reading, click here. Join the Fray: our reader discussion forum What did you think of this article? POST A MESSAGE | READ MESSAGES Also In Slate Why Gay-Rights Leaders Don't Want Their Big Prop 8 Victory to Go to the Supreme Court Yglesias: The Five Things You Need To Know About Today's Foreclosure Settlement Three Cases in One School: How Common Is Teacher Sex Abuse?	Advertisement
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