Chipotle Mexican Grill (CMG.N) surpassed market expectations for quarterly results on Thursday, as unwavering demand for its burritos and rice bowls and a strong boost from limited-time promotions helped defy a broader weakness in the restaurant industry.
surpassed market expectations for quarterly results on Thursday, as unwavering demand for its burritos and rice bowls and a strong boost from limited-time promotions helped defy a broader weakness in the restaurant industry.
The company has also banked on its rewards program to drive transactions higher through targeted promotions, and ramped up training for its staff to boost efficiency at stores. Chipotle raised prices by 3% in October after pausing hikes for over a year, but margin benefits would be offset by higher dairy and beef costs, it said."Expectations were fairly low just given everything that we've seen in restaurant land with the GLP-1 ," said Sante Faustini III, director of product intelligence at M Science.While consumers taking weight-loss treatments consume fewer calories, "it's important the calories they do consume are coming from clean food.
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