Chipotle (CMG) Plans to Add 15K Jobs in the United States

Chipotle Mexican Grill, Inc. CMG announced plans to hire 15,000 employees across the United States. To this end, the company initiated the hiring event — Coast To Coast Career Day — scheduled on Jan 14, 2021.

Notably, the company is implementing advance online registrations to reserve a slot for the interview along with mandatory masks and social distancing protocols. Also, outdoor interviews are provided according to candidates’ preference and restaurant location.

With 11,000 internal promotions through 2020 and nearly 200 new restaurant locations on the horizon, Chipotle believes that continued expansion and internal growth are key drivers for the job openings. Moreover, employment benefits such as access to mental health care, tuition reimbursements and free meals are likely to add to the positives.

Marissa Andrada, Chief Diversity, Inclusion and People Officer, stated, “We are fortunate to be experiencing growth during this unique time and want to safely provide an opportunity for purpose-driven individuals to join us on our mission of cultivating a better world.”

Price Performance

Shares of Chipotle have gained 28.8% in the past six months compared with the industry’s 26% growth. Notably, digitalization played a crucial role in sustaining growth for the restaurant operator amid the coronavirus crisis. Moreover, initiatives like redesigned online ordering site, online payment for catering, meal customizations as well as collaboration with third-party providers for delivery bode well. Also, the company stated that it has enough liquidity to tide over the ongoing crisis. Earnings estimates for 2021 have moved up in the past 30 days, which depicts analysts’ optimism regarding the stock growth potential.

Zacks Rank & Key Picks

Chipotle currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some better-ranked stocks in the same space are Jack in the Box Inc. JACK, Arcos Dorados Holdings Inc. ARCO and Yum! Brands, Inc. YUM, each carrying a Zacks Rank #2 (Buy).

Jack in the Box has a three-five year earnings per share growth rate of 10.6%.

2021 earnings for Arcos Dorados and Yum! Brands are expected to rise 127.3% and 12.1%, respectively.

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