, Columnist
Chipotle's Recovery Still Half-Cooked
It still hasn't figured out how to convince customers to return.
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Chipotle investors waiting for a real recovery will just have to keep waiting.
Sales at the beleaguered burrito maker's established locations fell by 24 percent from the year before in the latest quarter, it reported Thursday -- an even worse showing than the 20 percent drop Wall Street analysts expected. Traffic fell by 19 percent. Meanwhile, costs related to new food-safety procedures -- enacted in response to last year's devastating food-safety crisis -- and food waste rose.