Reported 29 days ago
Chipotle's stock fell after announcing third quarter earnings that missed Wall Street's sales expectations, reporting $2.78 billion in revenue, which is a 13% increase year-over-year but below the forecast of $2.82 billion. Although adjusted earnings per share exceeded estimates, same-store sales growth of 6% fell short of expectations. The burrito chain highlighted its efforts to improve service speed and introduce new menu items, such as smoked brisket, while facing rising ingredient and labor costs. Chipotle plans to continue expanding and investing in technology to drive efficiency.
Source: YAHOO