UPDATE 1-Chipotle restaurant sales rise slightly after price increases

By Kitco News / February 06, 2018 / www.kitco.com / Article Link

(Adds details on profit, sales results)

Feb 6 (Reuters) - Chipotle Mexican Grill Inc on Tuesday reported a slightly better-than-expected rise in sales at established restaurants, boosted by menu price increases, as it works to regain customer trust after food safety lapses in 2015.

Sales at Chipotle restaurants open at least 13 months were up 0.9 percent for the fourth quarter. Analysts, on average, had expected a gain of 0.7 percent, according to Consensus Metrix.

Net profit was $43.8 million, or $1.55 per share, up from $16 million, or 55 cents per share, a year earlier.

Excluding the 21 cent per share gain related to the new U.S. tax law, Chipotle beat Street's profit view by 2 cents, according to Thomson Reuters I/B/E/S.

Revenue jumped 7.3 percent to $1.1 billion, to match Wall Street's view. Traffic declines partially offset same-store sales gains related to last year's menu price increases.


(Reporting by Lisa Baertlein in Los Angeles; Editing by Susan Thomas)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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