Chipotle Mexican Grill (CMG) has 澳洲幸运5官方开奖结果体彩网:completed its 50-for-1 stock split, and started tr꧟adiℱng on a split-adjusted basis Wednesday as the restaurant chain looks forward to its earnings next month and its long-term plans to continue opening new locations.

Shares were little changed Wednesday, but stocks that undergo 澳洲幸运5官方开奖结果体彩网:stock splits often see 澳洲幸运5官方开奖结果体彩网:increased trading activity, "gaining 25% one year later vs. 12% for the broad index," 澳洲幸运5官方开奖结果体彩网:according to Bank of America ana꧟lysts.

Chipotle Shifts Focus To Earnings, Future Plans

"Today we celebrate the remarkable achievements of our employees by increasing ownership accessibility for team members and new investors," Chipotle 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Brian Niccol said Wednesday.

Company leadership said when it 澳洲幸运5官方开奖结果体彩网:announced the split ear🍌lier this year that the primary motivation was to make its stock price more accessible, especially among emp𓃲loyees. Chipotle also said it pla𝓡nned to reward long-time employees by offering a special one-time equity grant for restaurant general managers and employees with more than 20 years of service.

The company will report second-quarter results after the bell July 24. In April, it 澳洲幸运5官方开奖结果体彩网:reported bigger-than-expected first-quarter revenue and profit.

Chipotle Has Posted Strong Earnings Despite Disc𝕴retionary Spending Pullback

Chipotle and other fast-casual chains like Sweetgreen (SG) have managed to 澳洲幸运5官方开奖结果体彩网:continue posting strong earnings despite a pullback from 澳洲幸运5官方开奖结果🔜体彩网:consumers on discretionary spending that companies like McDonald's (MCD) have 澳洲幸运5官方开奖结果体彩网:acknowledged in recent months.

Wedbush analysts wrote in a recent note that Chipotle is "poised to sustain accelerated market share gains" going forward, and said a recent event with company leadership made them "incrementally more confident" that the chain's drivers of market share gains remain intact and it can continue improving margins.

In its latest earnings report, Chipotle said it expects comparable restaurant sales to grow in the mid- t📖o high🦹-single-digit percentage range for fiscal 2024, and said it plans to open between 285 and 315 new locations over the fiscal year.

Chipotle shares edged 0.4% higher to $65.93 by 12:20 p.m. ET Wednesday.