Shares of Chipotle Mexican Grill Inc. moved higher after the fast-casual Mexican chain reported first-quarter results that beat expectations.
Shares of Chipotle Mexican Grill Inc. moved higher after hours on Tuesday after the fast-casual Mexican chain reported first-quarter results that beat expectations, helped by new restaurant openings and falling avocado costs.
Same-store... Shares of Chipotle Mexican Grill Inc. moved higher after hours on Tuesday after the fast-casual Mexican chain reported first-quarter results that beat expectations, helped by new restaurant openings and falling avocado costs. Food, beverage and packaging costs for the quarter were 29.2% of total revenue, down from a year ago, aided by menu-price increases and a dip in costs for avocados. Other food costs — for things like dairy, tortillas, salsa, beans and rice — were still higher.
They cited the launch of Chipotle’s chicken al pastor offering and rewards-program incentives as potential benefits heading into the results. However, they said that as Chipotle enters the spring and summer seasons, when demand is higher, the chain’s ability to handle more orders was a “key potential positive wildcard” to sales, as Chipotle races to train its many relatively new hires.
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