Chipotle CEO seeks to revive struggling chain

Chipotle is looking to expand its menu and hours in an effort to revive the struggling burrito chain.

Chipotle is planning to introduce a taco "happy hour" promotion between 2 p.m. and 5 p.m., with $2 tacos to go along with the beer and margaritas it sells at most of its restaurants. There will be a similar offer for late-night customers.

The chain is also testing selling quesadillas, nachos and avocado tostadas.

CEO Brian Niccol told investors Wednesday that he wants to market foods more cleverly and to boost digital sales by installing pick-up shelves in restaurants where customers can collect mobile orders.

Chipotle, which has struggled for more than two years to win back customers after a series of food safety scares, also plans to offer a new loyalty program, roll out a new tagline and engage with consumers more on social media.

Niccol says the chain isn't planning to add a breakfast menu but will open Chipotle locations earlier and closing them later than the standard hours of 10:30 a.m. to 10 p.m.

He also says the company is closing up to 65 underperforming stores. Chipotle did about a $4 billion business in 2016 according to available figures.

In 2015, norovius and e-coli outbreaks sickened scores of customers. The company suffered from other outbreaks in 2008 and 2009.