Chipotle announced this week that it might raises prices next year after outperforming sales expectations. The spike in prices would come during the middle of 2014 and would be to offset food costs.
The popular burrito-slinger has been hesitant to increase prices, despite the cost of ingredients such as salsa and California avacados increasing. Furthermore, sales at restaurants open at least 13 months—which are traditionally under the microscope in the industry—increased by over 6 percent the last quarter, which exceeds the average analyst estimate of 4.7 percent.
Net income for the third quarter increased to $83.4 million, a 15 percent jump over the previous year. Next year, a low, single-digit growith is projected, and that's not including increased prices.
[via The Huffington Post]