Chipotle's CEO announces the potential to double the number of locations following strong earnings.

• CNBC's Jim Cramer interviewed Chipotle CEO Brian Niccol about the company's Tuesday earnings, and Niccol expressed his confidence in long-term expansion.
• Niccol stated that they believe they can increase the number of restaurants to 7,000, which they consider a conservative estimate that is achievable in the long run.

Brian Niccol, CEO, revealed to Jim Cramer on CNBC that the company intends to double its existing location count.

Niccol stated that they believe they can increase the number of restaurants to 7,000, which they consider a conservative estimate that is achievable in the long run.

On Tuesday, after the market closed, Chipotle reported $2.52 billion in revenue, surpassing the $2.49 billion forecasted by analysts at LSEG. Additionally, the company's foot traffic increased by 7.4%, a significant improvement compared to recent declines experienced by its peers.

The company's ability to produce quality food and keep restaurant lines moving quickly was attributed to Niccol as the reason for the successful quarter.

Niccol acknowledged that the business environment has been challenging due to inflation, but stated that Chipotle customers are content with the affordability of their food. In October 2020, Chipotle announced that it would raise prices to combat inflation, but did not disclose the specific increase in costs.

Our great culinary, terrific speed, and customization at affordable prices make us a terrific value, as we keep a close eye on our customers' feedback.

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