Chipotle stock bounces on strong sales
Stock in Chipotle Mexican Grill Inc. jumped more than 5 percent on Tuesday after the fast-casual chain reported unexpectedly strong same-store sales and margins.
Same-store sales increased 17.8 percent in the first quarter ended March 31, as the burrito chain continued to recover from a year long sales slump after a series of foodborne illness outbreaks in 2015.
Higher sales also meant higher margins, a key element to investors eager to see the company return to its highly profitable ways. Restaurant level operating margins increased 6.8 percent to 17.7 percent.
“2017 is off to a strong start, as our restaurant
