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Chipotle execs talk up chorizo potential

  • Execs with Chipotle (NYSE:CMG) tried to accentuate the positive during the firm's conference call yesterday.
  • The company plans to market chorizo pretty hard after the new menu option accounted for 7% of entree sales in Q3. Repeat traffic from chorizo lovers is expected in Q4.
  • There is also still plenty of upside seen with digital ordering as the chain tests out a new line at stores.
  • Challenges that are still in front of the company outside of the traffic falloff include the higher level of wages and the huge spike in avocado prices.
  • Chipotle will pull the plug on the ShopHouse concept after seeing disappointing results.
  • Chipotle earnings call transcript
  • Previously: Chipotle Mexican Grill misses by $1.03, misses on revenue (Updated) (Oct. 25)
  • Previously: Comparable sales fall 22% at Chipotle (Oct. 25)
  • CMG -3.37% premarket to $392.00.

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Chipotle Mexican Grill, Inc.