Jan 10 Chipotle Mexican Grill Inc said
sales at established restaurants likely fell 4.8 percent in the
fourth quarter and that costs came in higher than it had
Chipotle's shares were down 3.2 percent at $381.99 in
The company said it incurred higher-than-expected expenses
due to higher promotional spending and costs related to
television advertising, as it fights to recover from a string of
food safety lapses late last year.
Food costs were also higher than anticipated due to
increased costs of avocados, the company said in a regulatory
filing on Tuesday. (bit.ly/2iXQnRo)
The company estimated sales of $1.04 billion for the quarter
ended December, below the average analyst estimate of $1.05
billion, according to Thomson Reuters I/B/E/S.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by