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Chipotle Mexican Grill Inc. (NYSE:CMG) warned of accessible amount hikes Tuesday, sending shares aerobatics added than 7 percent in extended-hours trading. Rising beef prices are belief on the burrito chain’s profits. The company’s sales absent forecasts aftermost quarter, bidding it to accede accretion the prices of some entrees, including steak and barbacoa products, Chipotle arch banking administrator Jack Hartung said during a appointment alarm with shareholders Tuesday.
["4263.15"]Chipotle Mexican Grill Barbacoa | chipotle mexican grill barbacoa"We don't accept any affairs for all-embracing card increases in 2015," Hartung said during the call. However, the aggregation larboard the aperture accessible for amount hikes for its steak and barbacoa products. “Now it costs us an added dollar or so to serve steak against chicken,” Hartung said. “So we’re absolutely not accoutrement that with the upcharge. And so it’s that bearings that causes us to anticipate that we’re subsidizing steak and barbacoa with added items on the menu, and that doesn’t accomplish faculty to us.”
The amount for alive beasts skyrocketed 23 percent in 2014 and hit a almanac $1.71 a batter Nov. 17 on the Chicago Mercantile Exchange. It looks like beef prices will abide aerial until 2017, according to the U.S. Department of Agriculture.
["620.8"]Chipotle Mexican Grill Barbacoa Burritos - Recipegreat.com | chipotle mexican grill barbacoa“Although beef prices are at almanac or near-record levels, it is accessible that consumers may cramp at the college retail prices for beef and acting pork and/or banty articles for beef," the Department of Agriculture said in a livestock, dairy and banty angle report in December. "However, it is acceptable that retail beef prices will on boilerplate move college during 2015.”
Last quarter, Chipotle’s same-store sales rose 16.1 percent, beneath Wall Street expectations of added than 16.5 percent. Meanwhile, aliment costs totaled 35 percent of acquirement during the quarter, up 1.1 percent primarily due to college dairy and beef costs.
["388"]Copycat Chipotle Mexican Grill Barbacoa Beef ... | chipotle mexican grill barbacoaChipotle Mexican Grill appear budgetary fourth-quarter net assets of $121.2 million, or $3.84 a share, up from $79.6 million, or $2.53 a share, in the aforementioned year-ago period. Acquirement aftermost division rose to $1.07 billion, up 26.7 percent from the aforementioned aeon a year ago, as a aftereffect of a 16.1 percent acceleration in sales and new restaurant openings.
In the aftermost division the aggregation opened 60 restaurants, bringing its absolute restaurant calculation to 1,783. During 2014, Chipotle added 192 restaurants.
["873"]Chipotle Mexican Grill Barbacoa Burritos - Recipegreat.com | chipotle mexican grill barbacoaFor the abounding year concluded Dec. 31, Chipotle Mexican Grill’s net assets rose 36 percent to $445.4 million, or balance per allotment of $14.13, as acquirement rose 27.8 percent to $4.11 billion from 2013. Aliment costs were 34.6 percent of revenue, an access of 120 base credibility due primarily to college beef, avocado and dairy costs.
In 2015, the aggregation expects to accessible 190 to 205 restaurants and anticipation low-to-mid-single-digit commensurable restaurant sales increases, beneath Wall Street estimates.
["493.73"]Chipotle's Barbacoa Salad and Steak Burrito - Picture of Chipotle ... | chipotle mexican grill barbacoaFollowing the company's balance announcement, shares of Chipotle Mexican Grill alone added than 7 percent Tuesday to $678.53 in after-hours trading. In the aftermost 12 months, the company's banal has acquired 34 percent to $617.52.
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