Chipotle to Test Smoked Brisket at Select Outlets

Burrito chain Chipotle Mexican Grill will test a new smoked brisket across select restaurants in a bid to innovate on its menu.
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Chipotle Mexican Grill's  (CMG) - Get Report stock rose Monday after the burrito chain said it was testing a new menu item, smoked brisket, with customers across select restaurants.

Shares of the Newport Beach, Calif., company at last check was little changed at $1,297. The stock has tripled off its 52-week low of $415, set in mid-March. It's off 7% from its 52-week high above $1,384 set in early September.

Chipotle's latest dish is a smoked beef brisket seasoned with a special spice blend, seared on the grill, and finished with a sauce made with Mexican peppers. 

The "responsibly-sourced brisket ... meets our industry-leading food-with-integrity standards," Chief Marketing Officer Chris Brandt said in a statement.

The dish is being tested across 64 restaurants throughout Cincinnati and part of Sacramento, Calif.

Brisket will be available for in-restaurant, online, mobile, and contactless delivery orders at participating locations for a limited time.

Last month, Chipotle said it would open its first digital-only store, in New York State, as the burrito chain's digital sales surge during the pandemic.

In October, Chipotle reported results that beat Wall Street's third-quarter earnings expectations. Revenue increased 14% to $1.6 billion.

In September, Chipotle brought back its popular steak dish, carne asada.

Over the past two years, three Chipotle menu items including carne asada, Supergreens salad mix and queso blanco have been rolled out across the country.

In July, Chipotle said it was testing cilantro-lime cauliflower rice in select markets.