Chipotle's sales climbed. Its share price slid
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What the chart shows
The executive Starbucks hired in September 2024, Brian Niccol, spent six years running Chipotle. Now Starbucks has looked at buying Chipotle as well: the Financial Times reported on Thursday that the coffee chain has worked with advisers on a possible takeover, and Chipotle's shares rose 6.21% to US$32.68.
The chart shows what a buyer would be looking at. Revenue grew each year, from US$7.5 billion in 2021 to US$11.9 billion in 2025, while the share price went from US$60.30 at the end of 2024 to US$37.00 at the end of 2025. Reuters reports softer traffic and higher food and labour costs.
Exploring a deal is a long way from making an offer. Starbucks is still paying for its own turnaround, and Niccol would have to persuade his shareholders that fixing two chains at once beats fixing one.
The story behind it
Starbucks has looked at buying Chipotle, and Chipotle's shares rose 6.21% Read the edition →Starbucks on the calendar
Next results: date to come. It goes on the calendar as soon as Starbucks announces it. Economic calendar →The numbers
Two scales: revenue in US$bn on the left, 2021 to 2025; share price in US$ on the right, US$60.30 at the end of 2024 and US$32.68 on 8 October.
| Revenue, US$bn | Share price, US$ | |
|---|---|---|
| 2021 | 7.5 | 34.97 |
| 2022 | 8.6 | 27.75 |
| 2023 | 9.9 | 45.74 |
| 2024 | 11.3 | 60.30 |
| 2025 | 11.9 | 37.00 |
How we make these charts: one chart a day from a story in the edition, drawn from the figures the story names and checked against the sources named on the chart before it is published. General information only, not financial advice.
