Thursday, February 6, 2020

Chipotle crushes sales estimates during fourth quarter

Yahoo Finance
Chipotle crushed estimates on the top and bottom lines.

During the fourth-quarter, Chipotle opened 80 new restaurants, 46 of which included drive-thrus, also known as Clipotlanes. The company opened 66 new stores with Chipotlanes during 2019.

For the full year, revenue increased 14.8% from 2018 and totaled $5.6 billion with same-store sales growing 11.1%, boosted by 7% transaction growth and a 4.1% increase in the average check, according to the company. Meanwhile, 2019 restaurant level operating margin was 20.5% for 2019, an improvement from 18.7% in 2018.. . . more