(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)
OAK BROOK, IL-McDonald's executives plan to file an IPO for Chipotle Mexican Grill, the popular fast-casual concept in which they own a minority interest, next month. They plan to launch the offering during next year's first quarter to "optimize Chipotle's potential and create additional value for McDonald's shareholders."
McDonald's acquired the Denver-founded, 460-store chain in 2002. McDonald's also owns the Boston Market restaurant chain.
McDonald's does not break out Chipotle's financial performance, but it and other non-McDonald's chains owned by the company posted $330.4 million in revenue during its latest financial quarter, which ended June, compared to $285.8 million in the same year-ago period. The income from those restaurants was $6 million.
Additionally, McDonald's officials plan to spend $1.8 billion on capital expenditures next year, up from $1.7 billion this year, adding 850 new restaurants internationally. This year their plans have called for 550 new traditional units, as well as 150 satellite restaurants. However, the company was also in the works to close 350 units this year. McDonald's operates about 30,000 restaurants globally.
Revenues for system-wide restaurants during its latest quarter were $3.8 billion, up from $3.5 billion the year before. Year-over-year same-store sales jumped 2.8%.
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