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Posted by blogshackers on April 26, 2024 at 2:01pm 0 Comments 0 Likes
Animal Insurance in Switzerland is a crucial part of pet ownership. In this country known for its beautiful landscapes, and dedication to animal welfare plays a key role. Swiss people love their pets and are aware of the importance of protecting their health. This comprehensive guide explores the complexities of Animal Insurance in Switzerland. We examine its benefits and factors that you should consider before choosing the best coverage for your…
ContinueChipotle (CMG) on Tuesday posted a second-quarter earnings report that smashed joker gaming Wall Street expectations, thanks to the mass return of customers after COVID-19 restrictions, and ongoing strength in digital sales.
Here’s what the California-based company reported, compared to Wall Street’s expectations, according to a Bloomberg consensus estimate:
Revenue: $1.9B vs. $1.88 billion expected
Adj. earnings per share (EPS): $7.46 vs. $6.54 per share expected
Same-store sales: 31.2% vs. 29.8% expected
The restaurant chain outperformed on all measures, even as it faces some scrutiny for raising prices to offset the impact of the labor shortage. Shares of Chipotle rose 1.5% in after-hours trading following the report, and up 14 percent year to date.
"We remain confident in our key growth strategies and believe they will help us achieve our next goal of $3 million average unit volumes with industry leading returns on invested capital that improve as we continue to add 'Chipotlanes'," Brian Niccol, Chipotle Chairman and CEO said in the release.
"Strong restaurant level economics combined with significant restaurant growth should allow us to optimize earnings power for many years to come," Niccol added.
Dine-in customers returned strong, reflected in comparable restaurant sales that skyrocketed by 31.2%; however, digital sales did not take a hit from that rebound. The increasingly important segment accounted for 48.5% of sales, growing 10.5% from a year ago.
This year, the company plans to open approximately 200 restaurants, making significant progress this quarter with 56 new restaurants including one relocation; 45 of those locations included a drive-thru "Chipotlane."
This comes as Wall Street is keeping a close eye on pent-up demand among Chipotle eaters this quarter, and the company's efforts to innovate digitally.
Nicole Miller Regan of Piper Sandler & Co. reiterated shares of Chipotle as "overweight" with a price target of $2,100 in a note last month, amid optimism about Chipotle's development pipeline with 200 new locations planned for fiscal year 2021.
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