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Chipotle third-quarter restaurant sales soar
October 20, 2014 / 8:17 PM / 3 years ago

Chipotle third-quarter restaurant sales soar

Oct 20 (Reuters) - Chipotle Mexican Grill Inc on Monday reported better-than-expected growth in sales at established restaurants after diners appeared to shrug off price increases at the burrito chain known for serving antibiotic-free meats and organic produce.

Sales at restaurants open at least 13 months, a closely watched gauge of industry performance, soared 19.8 percent for the quarter. Two dozen analysts polled by Consensus Metrix expected same-restaurant sales to jump 17.2 percent for the quarter.

Chipotle, which has also cut genetically modified organisms (GMO) from its food supplies, said same-restaurant sales soared 17.3 percent in the second quarter and logged a 13.4 percent gain in the first quarter. (Reporting by Lisa Baertlein in Los Angeles; editing by Matthew Lewis)

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