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Tidbits from Chipotle's (CMG +2.2%) presentation at the ICR XChange conference: 1) Execs say the...

Tidbits from Chipotle's (CMG +2.2%) presentation at the ICR XChange conference: 1) Execs say the company might increase menu prices in 2013 with dairy and beef costs pressuring margins. No timetable is given, although the middle of the year looks to be the likeliest time period. 2) Catering services will be rolled out over the next few months. 3) On Q4, the company says 60 new restaurants were opened and the company saw its margins fall 150 bps to 24.6%. (webcast)
Comments (1)
  • Estimates remain high for 2013 particularly in the first half and especially for the first quarter. Gross margin miss in the quarter indicates that mgmt visibility into food costs is poor....thus 2.5% to 3% food inflation guidance for '13 needs to be, at least, rounded up a bit...particularly for a company that has missed in 3 of the last 4 quarters.
    17 Jan 2013, 01:45 PM Reply Like
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