Chipotle Spends $1 Billion on Stock Buybacks
- Share repurchases may limit cash for new restaurants, remodels
- Cash dropped to lowest since 2010 after company bought stock
Chipotle: The Complete History in About Three Minutes
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Chipotle Mexican Grill Inc. is stocking up -- on itself.
The burrito chain has spent more than $1 billion on share buybacks in the past year, part of efforts to cope with a food-safety crisis and a flagging stock price. But the move has raised questions about whether the money would be better spent somewhere else -- say, on new technology or remodeling restaurants -- especially since the shares remain down.