Chipotle Expects to Post a Big First-Quarter Loss
The company is hurting
Fallen burrito giant Chipotle has been reeling from several public health crises, lawsuits, and a criminal investigation, all of which have taken a big toll on the company’s earnings. Chipotle expects to post a loss of $1 a share or more for the first quarter of fiscal year 2016.
In a Tuesday SEC filing, the company reported same-store sales fell 26 percent in February, which was worse than analysts’ expectations. This follows a dismal fourth-quarter 2015 earnings report that saw Chipotle drop in sales for the first time ever as a publicly traded company. In the Tuesday filing, Chipotle…