On Tuesday, Chipotle celebrated a milestone: The opening of its 3,000th location.
Up until recently, Chipotle would have said that this new restaurant would have put the chain right around halfway to its goal. But last week, CEO Brian Niccol announced that the company has increased its ambitions.
"Over the long term, we now believe we can operate at least 7,000 Chipotle restaurants in North America, up from our prior goal of 6,000," he said during a call with analysts.
As the restaurant industry tries to adjust to a new normal, big chains are making moves. Restaurants that can afford to are "accelerating development," said BTIG restaurant analyst Peter Saleh. "They all see an opportunity to take share from smaller independents and regional chains," he said. Continue reading on CNN
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