Reported 28 days ago
Chipotle's stock fell by 6% on Wednesday after the company reported third-quarter revenues of $2.78 billion, which missed Wall Street's estimate of $2.82 billion despite a 13% year-over-year increase. While adjusted earnings per share rose to $0.27, exceeding expectations, same-store sales growth of 6% fell short of the predicted 6.38%. The burrito chain faces challenges from ingredient inflation and labor costs, although it continues to expand its location count and test new services to enhance efficiency.
Source: YAHOO