Chipotle comps up 7%

DENVER — Chipotle Mexican Grill Inc. has reported financial results for its second quarter ended June 30, 2008.

Comparable-store sales for the quarter increased 7.1 percent. The company attributed the growth primarily to menu price increases and an increase in customer visits. Chipotle opened 49 restaurants during the second quarter of 2008.

Revenue for the quarter increased 24.2 percent to $340.8 million, up from $274.3 million in the second quarter of 2007.

Net income also increased, up to $24.5 million compared with $20 million reported in the second quarter of 2007.

For the year

For the first six months ended June 30, 2008, comps increased 8.5 percent. The growth was primarily due to an increase in customer visits and menu price increases, according to company officials. Chipotle opened 77 restaurants during the period.

Revenue for the six months increased 26.6 percent to $646.1 million, up from $510.4 million reported during the first six months of 2007.

Net income increased to $41.8 million compared with $32.4 million in the same period last year.

Chipotle will host a conference call to discuss second quarter 2008 financial results June 24 at 5 p.m. EDT. Hosting the call will be Steve Ells, founder, chairman and CEO, Monty Moran, president and chief operating officer, and Jack Hartung, chief financial officer.

The conference call can be accessed live over the phone by dialing 1-888-599-4858 or 1-913-312-0942 for international callers. A replay will be available one hour after the call and can be accessed by dialing 1-888-203-1112 or 1-719-457-0820 for international callers. The password is 8455003. The call also will be webcast live from the Company's Web site atwww.chipotle.comunder the investor relations section. An archived Webcast will be available approximately one hour after the end of the call. A call replay will be available until July 30, 2008.