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Fast-casual Mexican-inspired restaurant chain
chipotle.comLast updated
In short: Chipotle reported Q3 sales growth, while rising costs pressured earnings and analysts reacted to weaker October sales.
Third quarter revenue reached $3.3 billion with a 2.1% comparable sales increase. Digital sales rose to 38.8%, though diluted EPS declined to $0.27 as operating margins contracted. The company opened 84 new locations.
It activated its traceability system, identified jalapeños from a common lot, removed them from restaurants, and replaced them with product from different growers.
Revenue grew 9.3% to $3.3 billion, comparable sales up 2.2%, and the company opened 100 new restaurants.
Conference call at 4:30 p.m. ET; press release at 4:10 p.m. ET.
Third-quarter same-store sales climbed 2.1%, beating estimates, driven by frequent menu launches and revamped loyalty offers that sustained recovery.
A purchase of nearly $39bn market-value burrito chain would rank as largest restaurant acquisition of all time...
The coffee giant refutes rumors of a takeover deal to quell market speculation about one of the restaurant sector's largest potential mergers.
Chipotle opened its first Asian store in Seoul's Gangnam district and plans two more Korean outlets this year, with Singapore ...
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