From CNBC: 2024-04-24 18:10:02

Chipotle Mexican Grill reported strong quarterly earnings and revenue, exceeding Wall Street’s expectations. The company’s stock rose 4% in extended trading. Net income for the first quarter was $359.3 million. Same-store sales rose by 7%, with traffic up 5.4%. Chipotle raised prices in California by 7% to offset minimum wage increases. CEO Brian Niccol credited traffic growth to the chain’s value perception among diners and improved throughput levels. Chipotle plans to open 285 to 315 new locations in 2024.



Read more at CNBC: Chipotle Mexican Grill (CMG) Q1 2024 earnings