Chipotle comps up 10.2%

Chipotle comps up 10.2%
Tags: Food & Beverage, Fresh Mex, Operations Management
April 23, 2008

DENVER — Comparable-store sales at Chipotle Mexican Grill Inc. restaurants increased 10.2 percent for the 2008 first quarter ended March 31, the company announced.

Revenue for the quarter increased 29 percent to $305.3 million, and net income increased 3 percent to $17.3 million. "Our commitment to invest in better ingredients, from more sustainable sources, has continued to allow us to serve better tasting food as we pursue our vision to change the way the world thinks about and eats fast food," said Chipotle CEO Steve Ells. "Our results for the quarter demonstrate that customers continue to be loyal to Chipotle, and that we are able to attract new customers even in this challenging economic environment."