Chipotle’s Terrible Quarter Comes With Laundry List of Reasons
- Everything from hurricanes to hacker attack pummel results
- Shares tumble as much as 15%, marking worst rout in five years
Hurricanes, Hacker Attack Hammer Chipotle Earnings
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Avocado prices shot up. Hurricanes forced restaurants to close. The bill for a hacker attack came in.
Those were reasons Chipotle Mexican Grill Inc. cited to explain its huge profit shortfall in the third quarter -- just a few of the troubles on a long list. The burrito chain was also hit with a norovirus outbreak in Virginia and a public-relations nightmare when customers complained about rodents falling from a ceiling at a restaurant in Texas.