Chipotle Mexican Grill (CMG) - Get Report on Tuesday announced it was extending its popular carne asada hand-cut premium steak offering run through the end of this year and into the first quarter of 2020.
In a statement, the Newport Beach, Calif.-based fast food chain said the premium cut of meat, originally introduced as a limited-time offer, "... continues to exceed the brand's expectations and drive new customer acquisitions."
"We're incredibly encouraged by the customer response to carne asada and are exploring options to add this as a permanent menu item in the future," said Chipotle CEO Brian Niccol.
Carne asada is "responsibly raised" beef sliced into thin strips rather than chunks. Introduced for a limited time on Sept. 17, the protein option has been well received among Chipotle customers.
Chipotle last month reported sales of $1.4 billion, up 15% from a year earlier and above analysts' expectations of $1.38 billion. Same-store sales gained 11% compared to forecasts of a 9.3% increase.
The company also said it expects to reach the top end of its high-single-digit guidance for comparable restaurant sales growth this year on the back of between 150 and 165 new restaurant openings in 2020.
Shares of Chipotle were up more than 2%, or $16.15 a share, at $759.52 in morning trading on Tuesday. The stock ended the day Monday up 1.61%, or $11.75 share, at $743.37 on the New York Stock Exchange.