HomeEconomyChipotle tops estimates despite pullback in low-income customers Economy Chipotle tops estimates despite pullback in low-income customers By inew October 26, 2022 0 160 views Share FacebookTwitterPinterestWhatsApp CMG +2.30% Add to/Remove from watchlist Add to watchlist Add Location Job added successfully: Please name your portfolio type: purchase Sell date: quantity: price Point value: Leverage: 1:1 1: 1: 1: 11 1 : 38 1: 75 1: 50 1: 50 1: 47 Committee: 500 47 Create new watchlist create 100 1000 75 Create a New Holding Portfolio Add Create 40052 +Add another position to close Hilary Russ and Deborah Marie Sophia (Reuters) – Chipotle Mexican Grill Inc reported quarterly sales and profit on Tuesday that beat Wall Street expectations, passing on higher burrito prices even as low-income consumers Eat there less frequently, but also for wealthier customers. Chipotle (NYSE: CMG) of Menu prices are approx increased % this quarter compared to last year. But even as consumer sentiment deteriorates amid record inflation and fears of a looming recession, companies that can pass those prices on to customers are raising their prospects. Tuesday, Coca-Cola (NYSE: KO) joins rival PepsiCo (NASDAQ: :100PEP) Inc raised its annual forecast as customers continue to buy sugary sodas despite rounds of price hikes. The California-based chain saw comparable sales rise 7.6% in the third quarter ended September. , while analysts on average expected a 7.3 percent increase, according to Refinitiv IBES. even so, Traffic was still down about 1 percent, and “we continue to see trends widening in income levels, with lower-income consumers further reducing frequency,” Chief Executive Brian Nicole said on a conference call with investors. “We have to cherish every guest because… the future will be a tougher environment for consumers ,”He says. However, the client earns $50, one year Increased their frequency, especially to try new limited-time menu items, including garlic guajiro steak, chief restaurant officer Scott Boatwright said in an interview. The company is using special offers in its digital loyalty program to entice customers, including last weekend’s “free queso” promotion for shipping, That led to more deals, he said. Despite growing concerns about U.S. restaurant demand due to decades of high inflation, analysts note that in Sales rebounded in the third quarter after a slowdown in June, and grocery costs climbed at a faster pace as gas prices retreated from their peaks. The chain Also expanding in small towns in Canada and the US, driving growth through openings 13 New restaurants this quarter, including 13 with a so-called “Chipotlane” drive-through option – the company says this format performs well . Chipotle made $9. 50 per share, with a high estimate of $9. , excluding one-time items. Restaurant-level margins also rose to .3% from .5% a year ago. Share FacebookTwitterPinterestWhatsApp Previous articleMark Miller's 'American Jesus' reveals the end of an eraNext articleBetter Online slots free spins no deposit win real money To play Inside 2022 inewhttps://inew.news RELATED ARTICLES Economy Asian shares fall after brutal central bank week, yen under spotlight September 25, 2023 Economy EU car group calls for urgent action on post-Brexit trade rules September 25, 2023 Economy China central bank adviser proposes structural reforms to revive economy September 24, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. USA Trends Messi-mad Indian mom driving to Qatar to see hero in his final World Cup December 7, 2022 Drew Brees fakes lightning strike in promotional stunt for online sportsbook December 3, 2022 Who could be speaker, if not Kevin McCarthy December 3, 2022 3 bold Utah football predictions for Pac-12 Championship vs. USC December 3, 2022 Load more LAST NEWS China Box Office: ‘Oppenheimer’ Still Holding Strong, Nears $60M September 25, 2023 Yankees miss playoffs for first time since 2016 September 25, 2023 Carl Nassib, First Openly Gay Active NFL Player, Retires September 25, 2023 Bitcoin Price Grinds Lower And Seems Like Bears Are Not Done Yet September 25, 2023 Load more Featured NEWS Neonazi Dit Geheel getal Schooljaar Ziehier Zowel Twintigers Doodschoot Appreciren Scoutsfuif, Zijn Appreciëren Krans Bank European Roulett gratorama? Winspark Bonus Regels Vrijwillig Zij Hij... July 7, 2022 Top 5 things to watch in markets in the week ahead August 20, 2023 Game 5: A Year of War in Ukraine February 20, 2023 1xbet On Line Casino India Evaluation Ll 100% Bonus Up To One Hundred Forty Five,000 April 26, 2023 Load more
