Business & Investment

Estimating Chipotle’s profit mistakes as the cost of COVID-19 is increased by Reuters

© Reuters. File Photo: The Chipotle Mexican Grill logo is located in the Chipotle Next Kitchen in Manhattan.

(Reuters)- Chipotle Mexican Grill Ink (NYSE :) On Tuesday, hit by costs associated with continuing business during the COVID-19 outbreak, missed a Wall Street quote for quarterly profits and about after closing bells in fast casual chain stock. It fell by 2%.

Burrito Chain’s powerful digital operations have helped the company survive the worst of the pandemic, but costs are increasing as the distribution network is strengthened.

Supported by the COVID-19 pandemic’s surge in online orders in some parts of the United States, digital sales almost tripled, with comparable sales up 5.7%.

According to the company, total sales for the fourth quarter, which ended December 31, were $ 1.6 billion, up 11.6%.

Except for temporary items, the company generated $ 3.487 per share and missed a $ 3.73 quote, according to Refinitiv’s IBES data.

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Estimating Chipotle’s profit mistakes as the cost of COVID-19 is increased by Reuters

https://www.investing.com/news/stock-market-news/chipotle-comparable-sales-rise-57-on-online-order-boost-2407064 Estimating Chipotle’s profit mistakes as the cost of COVID-19 is increased by Reuters

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