Breaking News
Apr 25, 2024
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Chipotle Mexican Grill rose 3% to $3,026.0 after the restaurant chain operator reported better-than-expected quarterly results.
Revenue in the first quarter increased 14.1% to $2.7 billion from $2.4 billion, net income rose to $39.2 million from $291.6 million, and diluted earnings per share advanced to $13.01 from $10.50 a year ago.
Same-store sales increased by 7%, driven by a 5.4% increase in store traffic and a 1.6% rise in average sales.
The company estimated full-year comparable sales to increase in the mid- to high-single-digit range, and the restaurant chain plans to open between 285 and 315 stores, with 80% having the drive-through Chipotlane.
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