Wednesday, April 27, 2016

Chipotle posts first quarterly loss, has trouble luring back customers

Patrons of Chipotle line up for lunch in this 2015 file photo. The Denver-based chain posted its first ever quarterly loss after a food safety scandal.Chipotle Mexican Grill is having a harder time than it expected winning back customers' trust and loyalty after a series of foodborne illness outbreaks last fall.

The Denver-based restaurant chain suffered its first quarterly loss since going public in 2006.
Sales dropped 23.4 percent in the first quarter to $834.5 million, Chipotle reported Tuesday. What was a $122.6 million profit in the first quarter of 2015 melted into a $26.4 million loss over the same period this year.. . . more

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