said it increased menu prices again and is likely to raise them further this year, as its chief executive officer said higher costs are unlikely to abate.
Higher menu prices helped the burrito chain boost sales in recent months as it pursues a plan to build hundreds more stores in the coming year, the company said.
For Chipotle’s fourth-quarter ended Dec. 31, it reported per-share earnings of $5.58, after adjusting for one-time items, exceeding analysts’ expectations of $5.25 a share, according to FactSet. The chain reported net income of $133.5 million, down from $191 million a year earlier.
The chain’s total sales were $2 billion, above expectations.
The company’s shares rose 7% in aftermarket trading Tuesday to $1,556. Chipotle’s…
