Chipotle’s Higher Prices Boost Sales While Transactions Drop
- Shares decline following release of third-quarter results
- Finance chief says he hopes menu prices are stabilizing
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Chipotle Mexican Grill Inc. reported comparable sales and profit that outpaced Wall Street’s expectations, though price increases are showing signs of wearing on consumers.
The volume of transactions fell last quarter and remain negative, a sign that customers are adjusting their habits. The shares fell 3.2% to $1,533.19 at 9:53 a.m. in New York trading.