Chipotle Mexican Grill, Inc. (NYSE:CMG) Q4 2022 Earnings Call Transcript

Brian Harbour: Just if you think that, that’s kind of the, the next catalyst for driving greater, more order penetration.

Brian Niccol: Yes, look, what we definitely know is when people are engaged in our rewards program, we get more purchase frequency out of them. And the most engaged people come through our digital business when it comes to our rewards program. So I do think the combination of, high engagement with rewards specifically around the amount of personalization that we’re doing here, will result in more frequency out of customers down the road. And usually, that comes via a digital experience is where you see more of the impact from the rewards program.

Brian Harbour: Thank you.

Operator: Ladies and gentlemen, this concludes our question-and-answer session. I would like to turn the conference back over to Brian Niccol for any closing remarks.

Brian Niccol: Okay, thanks. And thanks everybody for all the questions and being a part of the call. Obviously, 2022 was another one of these years where a lot of unexpected things occurred. But I do think once again, we’ve demonstrated the resiliency of Chipotle and the power of our food with Integrity purpose combined with the culinary and convenience that we provide. Again, we were able to expand our AUVs our margins. We had a record number of store openings in the fourth quarter. And, we’re optimistic about where the business is today because of the focus on great operational execution, combined with great culinary and great people. And you’re going to continue to see us stay focused on executing those basics while we continue to execute against the other strategies to make the brand more visible, loved and hopefully engaged with.

So off to a good start in 2023 and we’re optimistic about our growth runway going forward. So thanks everybody for being a part of the call and we’ll talk to you soon, I’m sure. Take care. Bye.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.