Chipotle (CMG) on Tuesday posted fourth-quarter earnings report that mostly beat market expectations, with growth driven by a digital boom accounting for nearly 42% of sales, sending its stock on a tear in after-hours trading.
Here’s what the California-based company reported, compared to Wall Street’s expectations, according to a Bloomberg consensus estimate:
Shares of Chipotle, which were down nearly 3 percent compared to a year ago, spiked by over 7% in post-market trading after the earnings release.
In the full fiscal year of 2021, Chipotle’s total revenue increased 26.1% to $7.5 billion. While same-store sales increased 19.4%, digital sales soared 24.7% and accounted for 45.6% of sales in all. In the earnings call following the report, Niccol noted digital sales grew three times since the onset of the COVID-19 pandemic.
The COVID-19 era trend of app-based ordering allowed the…
