Chipotle confirmed that marketing and promotion expenses will likely rise between 20 to 30 basis points, representing 3.6 percent to 3.7 percent of full-year sales. This revelation, together with news that food costs are expected to remain at 34.2 percent of total revenues and that same-store sales growth predictions are unchanged, was enough to send the company’s stock tumbling by as much as 3 percent to $445 a share in after-hours trading.
Currently down 6.19%
Submitted June 20, 2017 at 10:51AM by pizzatoppings88 http://ift.tt/2rMttnP
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