- Chipotle (CMG) states on its Q3 CC it's open to raising prices in mid-2014 to offset higher food costs. The fast-casual Mexican chain stated in its Q3 report it expects low-single digit same-store growth in 2014 in the absence of price hikes.
- Chipotle has also guided for Q4 same-store sales to be similar to, or slightly better than, Q3's 6.2%.
- Food costs accounted for 33.6% of Chipotle's Q3 revenue, up from 33.1% in Q2 and 32.6% a year earlier.
- CMG now +8% AH. Q3 results, details.
Chipotle open to raising prices, expects decent Q4 same-store growth
Oct 17 2013, 18:17 ET