The US economy is moving sideways, the CFO of fast food restaurant chain Chipotle Mexican Grill told CNBC Friday, but the company continues to expand.
This year it expects to open between 120 and 130 new restaurants, which represents a significant uptick. In the last two or three years, Chipotle has added about 100 new eateries each year.
Part of the company’s strategy is to position their new restaurants in “great real estate” locations, said Chipotle’s Jack Hartung.
As of the end of last year, the company, which runs its own restaurants, had nearly 1,000 locations in 35 states.