Chipotle’s comparable sales beat on online ordering

Home Business Chipotle’s comparable sales beat on online ordering

NEW YORK: Chipotle Mexican Grill on Wednesday (Oct 21) posted an 18.6 per cent drop in quarterly profit, hurt by higher beef prices, delivery costs and coronavirus-related expenses.

Shares of the company, one of the best performers in the restaurant sector following a 60 per cent rise this year, were down about 4 per cent after the closing bell.

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The burrito chain reported a three-fold jump in online sales, as consumers stuck at home ordered more healthy meals and salads, although it came at a higher cost for the company.

Net income fell to US$80.2 million, or US$2.82 per share, for the third quarter from US$98.6 million or US$3.47 pRead More – Source

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