The burrito chain has been raising prices to offset higher food and labor costs.
Joe Raedle | Getty Imageson Tuesday reported weaker-than-expected quarterly earnings and revenue, signaling that its price hikes may finally be alienating customers.
It's the first time since Chipotle's third-quarter report in 2017 that the company has fallen short of Wall Street's estimates for both its quarterly earnings and revenue, according to Refinitiv data. Excluding certain legal expenses, corporate restructuring costs and other items, Chipotle earned $8.29 per share.climbed 11.2% to $2.18 billion for the fourth quarter. The company's same-store sales rose just 5.6%, falling short of StreetAccount estimates of 6.
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