- Chipotle (CMG) reports comparable store sales rose 6.2% during Q3 on an increase in store traffic.
- Restaurant level operating margin slipped 60 bps to 26.8% as higher food costs and marketing expenses factored in.
- The company expects comparable restaurant sales growth in the mid single-digit for 2013 and low single-digits for 2014 (unless menu prices are increased).
- CMG +2.6% AH.
Sales up, margins down at Chipotle during Q3
Oct 17 2013, 16:11 ET