Chipotle (CMG) reports comparable-restaurant sales rose a sizzling 13.4% in Q1 on strong traffic trends.
Restaurant level operating margin fell 40 bps to 25.9%.
The company says food costs were up 150 bps during the quarter. Prices on avocados, beef, and cheese were all higher.
A new $100M buyback authorization approved by the board comes on top of the $77M still available on an old line.
CMG +3.7% premarket