‘Everyone Wants to Be Chipotle’ …
Chipotle’s recent stock woes aside, it’s true. As the report explained:
“Consumers are trading down like crazy, bypassing casual dinner-houses and leaping to fast-casual formats, sacrificing service but believing the food is still ‘fresh.’”
Carrols Restaurant Group (NASDAQ:TAST) also recently spun off its fast-casual chains, and the resulting company, Fiesta Restaurant Group (NASDAQ:FRGI), has climbed around 30% since its debut in May. FRG owns Pollo Tropical, a Caribbean chicken quick-stop, along with Chipotle-like company Taco Cabana. The company also has lots of room for growth, with just more than 100 restaurants.