Chipotle Mexican Grill, Inc. (NYSE: CMG) share value raised up as much as 4 percent this morning as the company reported restaurant sales that fell 4.8 percent during q4. This is an increase from recent decline of over 20 percent in October. Comparable sales has improved in the last two months of 2016.
Same-store sales had slipped 1.4 percent in November and 14.7 percent in December. The E. coli fiasco in 2015 has been tormenting share value which dropped the stock value almost 50 percent from 2015’s high to 2016’s low. Chipotle had reported earnings and sales forecast for the quarter that just missed Wall Street’s expectations.
Chipotle’s sales rose $1.04 billion compared to its sales to $997.5 million the prior year. The company has projections to earn 50 to 58 cents a share, although the estimate is 96 cents it seems Chipotle has set the bar low as E. coli fear still haunts consumers and daunts the Mexican fast food chain.