00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Chipotle reported stronger-than-expected same-store sales growth,
00:06suggesting the company may be recovering from challenges it faced last year, according to CNBC.
00:11The restaurant chain reported adjusted earnings of $0.24 per share,
00:15in line with expectations and revenue of $3.09 billion, exceeding the $3.07 billion estimate.
00:24First quarter net income came in at $302.8 million, or $0.23 per share,
00:31down from $386.6 million, or $0.28 per share, a year earlier.
00:37Higher effective tax rates, wage inflation, and rising beef prices weighed on margins during the quarter.
00:43The company's same-store sales rose 0.5%, beating expectations for a 0.7% decline,
00:50and reversing the prior quarter's drop.
00:52The company reiterated its forecast for flat same-store sales for the year,
00:57calling it conservative due to unpredictable consumer trends amid a more volatile economy.
01:02For all things money, visit Benzinga.com.
01:04Benzinga.com
Comments