Business

Market Movers

Chipotle enlarges buyback plan

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.

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.

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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.

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