Chipotle 3Q net income, sales increase
October 22, 2010
by Meat&Poultry Staff
DENVER – Chipotle Mexican Grill Inc. announced for its third quarter ended Sept. 30, net income was $48.2 million, an increase of 39.9% from the same quarter last year, while revenue increased 23.0% to $476.9 million. Highlights for the nine months ended Sept. 30, compared to the same prior year period, net income was $132.5 million, an increase of 39.1% and revenue increased 19.7% to $1.35 billion.
During the third quarter, Chipotle opened 22 new restaurants, bringing the total restaurant count to 1,023.
“We’re delighted that our continuing efforts to serve the very best food made from high quality ingredients raised with respect for the animals, the environment, and the farmers are resonating with our customers, allowing us to deliver double digit comps during the quarter,” said Steve Ells, founder, chairman, and co-CEO.