Chipotle's profit misses estimates as COVID-19 costs mount

  • 2/2/2021
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Strong digital operations at the fast-casual chain, a standout performer in the industry during the coronavirus, have helped it ride out the worst of the impact, even as its expenses have climbed as it bolsters its delivery network. Digital sales rose nearly three-fold and drove a 5.7% rise in comparable sales, helped by a surge in online orders in some parts of the United States. Total revenue increased 11.6% to $1.6 billion for the fourth quarter ended Dec. 31, the company said. Excluding one-time items, the company earned $3.48 per share, missing the estimate of $3.73, according to IBES data from Refinitiv.

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