Chipotle beats earnings as price hikes help offset higher food costs

) reported its third quarter earnings results on Thursday after the market close, beating estimates on its earnings and same-store sales.Revenue grew 11% to $2.47 billion as same-store sales increased 5%, slightly higher than estimates of 4.37%. The company also posted a bottom-line beat, with adjusted earnings per share coming in at $11.36, compared to the $10.51 expected by analysts.in mid-September, a fan favorite in 2019.

Increasing food cost, including higher prices for beef and queso, were offset by price hikes taken last year. This comes after the company announced plans toWhile the company hasn't said when or how much prices will change, many on the street speculate it will be roughly a 3%-3.5% increase in the middle of Q4 when an updated menu typically comes out.remains intact. It's expecting restaurant sales growth in the mid to high-single digit range for Q4, per its guidance.

A famed trader known as '50 Cent' is making a big bet that the world's worst-performing currency is about to surge 'violently' Ruffer, a UK-based fund known for winning bets made in the volatility market, is now hoping for a big upswing in the Japanese yen.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street tumbles back to where it was in MayNEW YORK (AP) — Wall Street sank back to where it was in May, pulled down by steep drops in several Big Tech companies. The S&P 500 fell 1.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts following more strong economic reportsNEW YORK (AP) — Wall Street is drifting after reports showed the U.S. economy continues to storm ahead despite much higher interest rates that have already lashed the stock market. The S&P 500 was off 0.
Source: SooToday - 🏆 8. / 85 Read more »