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Chipotle Mexican Grill misses expectations for earnings, revenue and same-store sales - TL;DR CNBC

Chipotle Mexican Grill misses expectations for earnings, revenue and same-store sales

Publishing timestamp: 2023-02-07 18:33:14


Summary

Chipotle Mexican Grill reported weaker-than-expected earnings and revenue for its fourth quarter, with CEO Brian Niccol maintaining that the company hasn't seen backlash to higher prices for its burrito bowls and tacos. The company plans to open between 255 and 285 new locations in 2023 and is looking to hire 15000 workers by this spring. Digital sales represented more than a third of its total revenue, and menu prices were up 13.5% year over year.


Sentiment: MIXED

Tickers: CMG

Keywords: breaking news: earningsbrian niccolchipotle mexican grill incbusiness newsearningsbreaking news: businessrestaurantsbusinessretail industrymarkets

Source: https://www.cnbc.com/2023/02/07/chipotle-mexican-grill-cmg-earnings-q4-2022.html


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