div > div.group > p:first-child"> Here's what Wall Street is expecting, according to a survey of analysts by Refinitiv:
Investors have been optimistic about the chain under the leadership of former Taco Bell head Brian Niccol. At the end of March, the company's stock price hit $700 per share for the first time since 2015, when a multistate E. coli outbreak linked to Chipotle sent shares plunging. The stock is up more than 63% so far in 2019.
Several analysts have downgraded Chipotle as a result of its rising stock price but remain bullish on its success this quarter. For example, Morgan Stanley analyst John Glass raised his estimate for the chain's first-quarter same-store sales in the same research note downgrading shares. In March, Chipotle launched its points-based loyalty program nationwide. Less than a week later, the company surpassed its one millionth member, who scored a year's worth of Chipotle. The program has already helped mobile app downloads soar, according to a Barclays note. Investors can expect to hear more about the program's progress and if it has contributed to digital sales so far.
The loyalty program is just one part of Chipotle's strategy to build digital engagement. The company has a partnership with third-party delivery service DoorDash. It has also been investing in changes to its restaurants to make delivery and digital pick-up easier for customers, like pick-up shelves and drive-through windows called Chipotlanes.
Burrito 🌯
Explosive diarrhea
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