Chipotle Mexican Grill (CMG 6.33%) has an appetite for Asian growth. The company announced this week that it has inked lease deals for four more ShopHouse Southeast Asian Kitchen restaurants.
There's just one location open right now, in the heart of Washington, D.C., at Dupont Circle. That store has been open for two years. Now there are three more eateries set to open in the coming weeks, and four new leased locations should come online early next year.
That's no match for the nearly 1,500 namesake burrito joints Chipotle currently has in operation, but it's good to diversify. Having a second distinct vehicle may also provide leverage in negotiating leases at strip malls that may support both concepts.
Briefly in the news
And now let's take a quick look at some of the other stories that shaped our week.
- VeriFone (PAY) shares tumbled 21% on Thursday, after the transactions enabler missed Wall Street's profit expectations and issued disappointing guidance. VeriFone wasn't very fun.
- TiVo (TIVO) can't catch a break. The DVR pioneer was on the receiving end of a $490 million settlement, but the stock still took a hit because it was less than the market was expecting. Go figure. TiVo's intellectual capital alone has been enough to be awarded $1.6 billion in damages in recent years, but the company's enterprise value is a mere $1 billion.
- Amazon.com (AMZN -1.65%) is not the second coming of Webvan, but it is expanding its AmazonFresh grocery delivery service to Los Angeles. It's been testing the service fir years in select neighborhoods in its home turf of Seattle.
- JinkoSolar (JKS -0.34%) moved higher on Friday after reporting a 36% surge in shipments. Solar energy was out of favor last year, but some players are starting to show signs of brightening.
