Shares of Chipotle Fall After Earnings Release
Shares of Chipotle Mexican Grill (NYSE: CMG) traded down over 10% during Thursday's after-hours session after the company delivered mixed second-quarter results. Denver-based Chipotle said it earned $81.7 million, or $2.56 per diluted share, compared to $50.7 million, or $1.59 per diluted share, a year earlier.
Revenue climbed almost 21 percent to $690.9 million while same-store sales increased eight percent. The company said it opened 55 new restaurants, including one in Paris, during the quarter.
For 2012, Chipotle expects to open 155-165 new restaurants. The company forecast mid-single digit comparable restaurant sales growth for the full year.
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