Chipotle Mexican Grill has confirmed that it has filed a trademark application for “Better Burger,” sending.
The fast-casual chain is considering the burger chain as an alternative to growth. The move comes at a time when the company’s stock is struggling amid E. coli and norovirus troubles and a changing market.
“We have two non-Chipotle growth seeds open now ― ShopHouse and Pizzeria Locale ― and have noted before that the Chipotle model could be applied to a wide variety of foods,” a spokesman from Chipotle told CNBC.
The application was filed on March 11 but has not yet been approved.
Unlike the burrito market that it revolutionized, Chipotle is facing some very steep competition from the likes of Shake Shack, Five Guys, and Smash Burger, among others.
Shares at Chipotle are up 1.32% at 11:17 AM ET.