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Checking Out Chipotle's Apple Watch App

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Chipotle Mexican Grill, Inc. (NYSE: CMG) released a new app on Friday for the Apple Inc. (NASDAQ: AAPL) Watch.

According to Brian Sozzi, CEO and Chief Equities Strategist at Belus Capital Advisors, Chipotle “updated and optimized its existing iPhone app, meaning there are no substantially new features, save for a ‘countdown clock’ that ticks off the seconds to when your order is ready (the iPhone app does tell you what time your order will be ready, however).”

Chris Arnold, Chipotle's communications director, stated, "Convenience is important to our customers and mobile ordering apps allow for easy access on the go. With the app's availability now on the Apple Watch, existing app users have an even more efficient mobile ordering experience available to them."

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Source: Apple.com

Users will be able to “locate the closest Chipotle, save their favorite orders, and pay for the items using a stored credit card before picking up the food,” Sozzi noted, which was similar to the Chipotle iPhone app’s features.

Looking ahead, Chipotle would want to “keep its sales humming,” Sozzi said, as the company’s same-store sales growth had recently declined and new technology, such as the Apple Watch, could help the company maintain its growth.

“Unleashing the power of the Apple Watch should aid in Chipotle's drive towards extra speedy lunch and dinner lines, hopefully leading to continued sales growth,” Sozzi concluded.

Chipotle recently traded at $635.23, down 0.06 percent.

Apple recently traded at $129.40, down 0.20 percent.

Posted-In: Belus Capital Advisors Brian Sozzi TheStreetAnalyst Color Tech

 

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