Shares of Chipotle Mexican Grill are down over 6% in premarket trading following a relatively humdrum fourth-quarter earnings report.
The report, released on Tuesday, February 3, showed a 2.5% decrease in comparable restaurant sales from quarter-three and a 1.7% drop year-over-year.
However, it appears Chipotle has a plan to fix all that: more limited-time offerings.
Yes, the company’s secret weapon of choice is to bump up its number of fresh menu options. This shift will include four limited-time offers throughout the year, Chipotle CEO Scott Boatwright said in an earnings call. He described the move as an increase in Chipotle’s “menu innovation cadence.”
The limited-time offers (or LTOs) will start next week with the return of Chicken al Pastor, which Boatwright called “the most celebrated limited-time offer in history, with two times the requests on social media to bring it back compared to any other LTO.”
Boatwright adds that Chipotle’s data shows a “core guest is more likely to choose a restaurant that has a new menu item.”
Protein, rewards, and of course AI
Chipotle has also recently rolled out its “high-protein line,” with Boatwright nodding to the increased use of weight-loss drugs. It includes a $3.50 taco with 15 grams of protein as an addition to an 80-gram double-protein bowl.
There’s also a $3.80 high-protein cup “that is inspired by hacks that our guests rely on to boost their intake and offers a solution to those looking for smaller portions, which is a fast-growing trend with the adoption of GLP-1s,” Boatwright stated.
Furthermore, the fast-casual chain is relaunching its rewards program and using AI to create more “personalized and impactful” experiences.
Even with these steps, Chipotle predicts its comparable restaurant sales for 2026 will be flat.
The company did report some wins for quarter-four. It reached $2.98 billion in revenue, beating Wall Street’s expected $2.96 billion, according to consensus estimates cited by CNBC.
What happened to that Chipotle boycott?
Quarter-one for 2026 has brought its own uncertainties to the fast-casual chain thanks to misinformation spreading online.
Chipotle faced boycott calls in January after Bill Ackman, the billionaire CEO and founder of Pershing Square Capital Management, donated $10,000 to a GoFundMe campaign for Jonathan Ross, the ICE agent who shot and killed Renee Nicole Good as she turned her vehicle away from him.
In 2016, Ackman bought a 9.9% stake in Chipotle, valued at about $1 billion, Newsweek reports. At the time, Pershing Square Capital was one of Chipotle’s top shareholders, but the company sold all of its shares as of November 2025.
In response to the boycott, Chipotle took to social media to clarify that Ackman is no longer connected to the brand.
Chipotle’s stock price (NYSE: CMG) was down more than 33% over 12 months when the market closed on Tuesday.