Chipotle Sales Miss Estimates on Price Hikes, Pork Shortage
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Chipotle Mexican Grill Inc. posted first-quarter sales that trailed analysts’ estimates, hurt by higher menu prices and supply-chain woes that are causing shortages of one of its main ingredients.
Sales rose 20 percent to $1.09 billion, the Denver-based company said Tuesday in a statement. The average of analysts’ estimates compiled by Bloomberg was $1.11 billion.