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Chipotle is defying restaurant slump as earnings, traffic rise again

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The burrito chain said traffic increased 5.4% in its first quarter.

Chipotle Mexican Grill topped Wall Street's expectations for its quarterly earnings, revenue and same-store sales growth.In March, Chipotle's board approved a 50-for-1 stock split, one of the largest in the New York Stock Exchange's history.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Chipotle has become the rare restaurant chain to report rising transactions despite higher menu prices. The company once again raised its prices in October, citing inflation. Others in the restaurant industry have turned to limited-time offers and deals to appeal to customers, particularly those with lower incomes.

 

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Chipotle is defying restaurant slump as earnings, traffic rise againThe burrito chain said traffic increased 5.4% in its first quarter.
Source: CNBC - 🏆 12. / 72 Read more »