Chipotle releases 1Q earnings

Chipotle releases 1Q earnings
Tags: Fresh Mex, Operations Management
May 1, 2007

DENVER — Chipotle Mexican Grill Inc. reported same-store sales increased 8.3 percent to $605 million for the first quarter ended March 31. Comps for the same period last year increased 19.7 percent to $496 million.

Revenue for the first quarter of 2007 increased 26.2 percent to $236.1 million from $187.0 million in the first quarter of 2006.

Net income increased 55.7 percent to $12.4 million from $7.9 million from the same quarter last year.

Chipotle attributed the growth in revenue to new restaurants and the 8.3 percent comp increase. Chipotle opened 28 company-operated restaurants during the first quarter of 2007.