Chipotle Mexican Grill said it will buy back $100 million more of its stock, expanding a $100 billion buyback plan launched Oct. 18. With growth stalling, Bloomberg reports, Chipotle may become more like a standard fast-food chain. It is mulling things like running ads that drive traffic rather than celebrate the brand and adding breakfast and drive-throughs.
Market Movers
Chipotle enlarges buyback plan
David Paul Morris/Bloomberg News/File 2011
The first Chipotle store opened in 1993. The chain built a cult brand with a tightly edited menu of sustainably sourced food and helped pioneer the “fast casual” category.