Chipotle ( CMG ) is out with a new restaurant concept called Farmesa . The California-inspired, concept eatery is in partnership with Kitchen United Mix, a ghost kitchen, and is set to officially launch next month. Located in Santa Monica, California, guests can order via kiosks at the location, on Kitchen United’s website for pickup, or via delivery through apps like DoorDash and UberEats. Stay ahead of the market Morningstar Analyst Sean Dunlop, who has a price target of $1,550 on the stock and three-star rating (similar to a Hold at the firm), called the new concept’s digital-only ordering system "a manifestation" of Chipotle’s goal of higher digital integration. In its latest quarterly results, the company noted that digital sales accounted for 37.4% of food and beverage revenue. The Farmesa brand has a key audience in mind too, Dunlop said. "It’s a premium-priced product. It’s akin to upscale, fast casual, like Flower Child or Sweetgreen, so the the TAM [total addressable market] is not infinite," he said. Amid high inflation , "affluent consumers" have been mostly "healthy over the last couple days and months in the restaurant space," and there’s been no recent pushback from the higher income consumers […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
