Reported 28 days ago
Chipotle's stock fell 6% after the company reported third-quarter revenue of $2.78 billion, which was below Wall Street's expectation of $2.82 billion. Despite a 13% year-over-year increase in revenue and a 17.4% rise in adjusted earnings per share, same-store sales growth of 6% did not meet the anticipated 6.38%. CFO Adam Rymer noted a seasonal slowdown in the quarter before sales improved in August and September. The company aims to open 285 to 315 new locations this year while facing rising food costs and labor expenses.
Source: YAHOO