Chipotle open to raising prices, expects decent Q4 same-store growth

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.

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