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Chipotle slumps after reaffirmed guidance fails to satisfy

Published 06/20/2017, 08:53 AM
© Reuters.  Chipotle slumps after reaffirmed guidance fails to satisfy
CMG
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  • Chipotle (NYSE:CMG) trades lower as more analysts take shots at the restaurant stock after the company only reaffirmed its full-year guidance in a SEC filing.
  • Same-store sales are still seen increasing at a high single-digit rate, but that pace misses the consensus analyst estimate for a 10.3% gain.
  • Chipotle expects food costs to be approximately 34.2% of sales and marketing/promotion costs to be up approximately 20 to 30 basis points on a year-over-year comparison. Operating costs as a percentage of sales are anticipated to be slightly higher than Q1.
  • SunTrust and Instinet are both out this morning with cautionary comments on Chipotle.
  • SEC Form 8-K
  • Previously: Instinet lowers targets on Chipotle (June 20)
  • CMG -3.68% premarket to $420.00.
  • Now read: Millennials And Midwest: A Faithful Base And Untapped Region For Chipotle


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