Don’t expect Chipotle ( CMG ) to play the McDonald’s ( MCD ) playbook of value-added meals.
“I don’t want to do this [dollar menu],” Chipotle CEO Scott Boatwright said on Yahoo Finance’s market dominance (video above).” Let me explain why. I think our value proposition is very compelling. You know, our food is worth, in my mind, every penny we ask someone to pay for it. I don’t want to devalue my core offering. “
McDonald’s brought back its value-added meal offerings in September 2025 in an effort to make its meals—which Prier had earned—more affordable for cash-strapped customers.
Chipotle is choosing a different path. The company gave away $1 million in free food as part of a Super Bowl promotion. The codes, which are available to the first 100,000 people who redeem them, are valid in the US until February 12.
Boatwright confirmed to Yahoo Finance that Chipotle gave away 100,000 meals and hinted that the company may do similar promotions later in the year.
He added that the company is also going to test “happy hour” during dinner hours to drive cost awareness.
“So we have more work to do on what will start in the Test, but we’re probably thinking something under 10 bucks,” Boatwright said on the upcoming Test. “I think that’s our way to really grow the day part to give back to the community in a really meaningful way and bring more customers into the restaurant.”
Chipotle has had a full year of being un-Chipotle-like, meaning its earnings and stock price aren’t in high-growth mode.
The restaurant chain’s fourth-quarter same-store sales fell 2.5 percent as it continued to battle through weaker consumer traffic trends amid the headwinds of a recession. The company sparked online debate after Boatwright revealed on an earnings call that 60 percent of its core customers earn more than $100,000 in annual revenue.
Its 2026 outlook disappointed the road after the company said it expects sales to be unchanged this year. The Street was looking for a rise of 1.8%.
While the company signaled a good start to the first quarter, sales have been under pressure. The company was not prepared to predict a strong rebound, as the cold winter weather also kept consumers at bay.
Chipotle stock is down 30% over the past year, compared to a 10% gain for McDonald’s ( MCD ), which has been more aggressive in marketing new, cheaper menu options.
To turn the ship around, Chipotle plans to introduce several limited-time offers, such as Chicken Al Pastor. It has also released a small bowl of grilled chicken for about $3.95 to reach cost-conscious consumers.