Chipotle Earnings: Another Rough Quarter
Here's our initial take on 's (NYSE: CMG) financial report.
Chipotle managed to eke out 3% revenue growth in the second quarter, below analyst expectations, only because it opened 61 new company-owned restaurants. Comparable-restaurant sales dropped 4%, compared to 11% growth in the same period last year, driven by a 4.9% decline in transactions.
Profitability also suffered. Adjusted earnings per share was down slightly, while operating margin contracted by 1.5 percentage points to 18.2%. The negative impacts of lower sales volumes and cost inflation for some ingredients were partially offset by menu price increases.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
€30.45
2.350%
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