Chipotle able to build comps 12.3 percent in Q2 despite price increases
SEAFOODNEWS.COM [Nation's Restaurant News] By Lisa Jennings - July 23, 2014
Chipotle Mexican Grill boasted a near record same-store sales increase for its second quarter based largely on traffic growth, indicating that price increases that began in April have done little to discourage the burrito habits of guests.
In a call with analysts following the release of second quarter earnings on Monday, Chipotle officials said the 17.3-percent increase in same-store sales was the highest since the company’s very first quarter as a public company in 2006, when same-store sales rose an impressive 19.7 percent.
At the time, however, the chain had fewer than 500 restaurants, which averaged about $1.5 million in sales. Chipotle finished the June 30-ended second quarter this year with 1,681 restaurants, which averaged $2.3 million in annual sales...
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