Business

Chipotle earnings top estimates as digital sales double, boosts same-store sales outlook


A chicken burrito, guacamole, bag of tortilla chips, and a drink are arranged for a photograph at a Chipotle Mexican Grill Inc. restaurant in El Segundo, California, U.S., on Wednesday, July 25, 2018.


Chipotle Mexican Grill on Wednesday reported earnings and revenue that beat analysts' expectations after doubling its digital sales during the quarter.


"The on-going improvement in each of our key operating metrics over the past few quarters gives us confidence that our mission to win today and cultivate the future, is resonating," CEO Brian Niccol said in a statement.


Price hikes at the end of 2018 helped lower food, beverage and packaging costs but were partially offset by more demand for steak.


During the company's earnings conference call, Niccol said the rewards program now has grown to 3 million members.


It has also been investing in changes to its restaurants to make delivery and digital pick-up easier for customers, like pick-up shelves and drive-through windows called Chipotlanes.






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