Chipotle same-store sales top estimates

April 24, 2019

(Reuters) – Chipotle Mexican Grill Inc beat analysts’ expectations for quarterly same-store sales on Wednesday, as the fast-casual chain’s emphasis on fresher menu and investments in online ordering and delivery boosted customer transactions.

Sales at restaurants open for at least 13 months rose 9.9 percent in the first quarter ended March 31, well above analysts’ average estimate of 7.29 percent, according to IBES data from Refinitiv.

Revenue rose nearly 14 percent to $1.31 billion, beating estimates of $1.26 billion.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila)

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