CMG - PICS OF THE LONDON STORE

Our London contacts sent us some pictures of Chipotle’s first Euro-store.

The following pictures were taken at 11am GMT today, prior to the lunch rush.  The locals seem to think that prices are a little high.  In the U.S., lunch is the most important day part.  If the London location is open late, the higher price point would likely make it non-competitive. At night, it is unlikely the Brits will forgo an extra pint to afford a burrito if they can go to a kebab joint and eat for less.

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Howard Penney

Managing Director