From Dow Jones & Company:

Chipotle Mexican Grill Inc. reported fourth-quarter results that outperformed expectations, with net income of $282.1 million, or $10.21 a share, compared to $223.7 million, or $8.02 a share in 2022. Revenue rose 15.4% to $2.52 billion, with an 8.4% increase in same-store sales. Shares rose 2.7% after hours, and executives expect mid-single-digit same-store sales growth this year. Chipotle plans to open 110 new restaurants, including Chipotlanes, in 2023. The chain saw increased consumer transactions and digital sales, offsetting rising ingredient costs. Executives are optimistic about international growth in the coming years.



Read more: Chipotle’s stock up as higher prices, demand drive better-than-expected results