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Chipotle profit misses, restaurant sales fall just short
October 18, 2012 / 8:22 PM / 5 years ago

Chipotle profit misses, restaurant sales fall just short

(Reuters) - Chipotle Mexican Grill Inc (CMG.N) on Thursday reported quarterly profit that missed Wall Street’s view after sales at established restaurants fell just short of analysts’ target, and its shares fell more than 11 percent after-hours.

Net income for the quarter was $72.3 million, or $2.27 per share. Analysts, on average, were looking for a profit of $2.30 per share, according to Thomson Reuters I/B/E/S.

Sales at restaurants open at least 13 months rose 4.8 percent, just missing analysts’ call for a gain of 4.9 percent, according to Consensus Metrix.

Reporting by Lisa Baertlein in Los Angeles; editing by Matthew Lewis

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