Chipotle Profit Rises 15% as Ads Boosts Sales
This article is for subscribers only.
Chipotle Mexican Grill Inc., the restaurant chain with the fastest-growing sales among its peers, said third-quarter profit rose 15 percent as more advertising boosted store traffic. The shares jumped the most in more than six years.
Net income climbed to $83.4 million, or $2.66 a share, from $72.3 million, or $2.27, a year earlier, the Denver-based company said in a statement yesterday. Analysts projected $2.78, the average of 26 estimates compiled by Bloomberg.