Chipotle’s Profits Plummeted by 95 Percent in 2016
It was a painful year for the burrito chain
Yesterday, Chipotle revealed its financial results for the last quarter of 2016, painting investors an overall picture of a grim year for the chain that suffered through multiple E. coli and Norovirus outbreaks starting in fall 2015. Compared to the previous year, 2016 sales figures for the battered and bruised burrito chain were staggeringly weak: Profits plummeted 95 percent, from nearly $476 million in 2015 to just $23 million.
Of course, those setbacks didn’t prevent the company — which was once a favorite among consumers — from expanding: In 2016 it