February 3, 2017

Chipotle revenues drop 13.3 percent in 2016

By

DENVER — Revenue at Chipotle Mexican Grill dropped significantly in 2016, despite showing improvement late in the year.

The Denver Post reports that Chipotle reported a 13.3 percent decrease in revenue, to $3.9 billion, with net income dropping to $22.9 million, from $475.6 million the prior year.

Issues with food safety have taken a toll on Chipotle revenues, and the company is also dealing with escalating costs for labor and food. Chipotle’s financials improved in the fourth quarter, with revenue up 3.7 percent from the same period a year ago.

SPONSORED CONTENT

DENVER — Revenue at Chipotle Mexican Grill dropped significantly in 2016, despite showing improvement late in the year.

The Denver Post reports that Chipotle reported a 13.3 percent decrease in revenue, to $3.9 billion, with net income dropping to $22.9 million, from $475.6 million the prior year.

Issues with food safety have taken a toll on Chipotle revenues, and the company is also dealing with escalating costs for labor and food. Chipotle’s financials improved in the fourth quarter, with revenue up 3.7 percent from the same period a year ago.

Categories: Morning Edition
Sign up for BizWest Daily Alerts