Feb 5 Chipotle Mexican Grill Inc on
Tuesday reported higher quarterly profit, despite higher costs
for beef and other ingredients that took a bite out of margins.
Net income rose to $61.4 million, or $1.95 per share, during
the fourth quarter, from $57.5 million, or $1.81 cents per
share, a year earlier.
Revenue increased just over 17 percent to $699.2 million.
Sales at restaurants open at least 13 months were up 3.8
percent, as expected.
Food costs were 33.5 percent of revenue, an increase of 130
basis points, primarily driven by higher costs for beef
products, including steak and barbacoa.