US Stocks Move | Chipotle drops 6.3% in after-hours trading as Q4 same-store sales disappoint
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Gelonghui, February 4th|Chipotle (CMG.US), a US restaurant chain, fell 6.3% in after-hours trading to $36.7. In terms of news, Chipotle announced its fourth-quarter results, with net sales rising 4.9% year-on-year to $2.98 billions, slightly better than analysts' expectations of $2.96 billions; net profit was $331 millions, and adjusted earnings per share were $0.25, also slightly higher than the expected $0.24. Same-store sales fell 2.5% in the fourth quarter and dropped 1.7% for the full year. Looking ahead to this year, the company expects same-store sales to remain flat and plans to open 350 to 370 new stores. (Gelonghui)
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