Chipotle earnings beat on the top and bottom line

Chipotle Mexican Grill CMG EPS Beats.

• $0.40 Adj. vs $0.035 EST
• Revenue - $ 1.36B compared to $1.34B Est
• Same-store sales declined by 9.8%   compared to 11.9 percent estimate. (this is not as deep of a decline as what analysts expected.

Sales Month to month

• same-store sales
• Aril 24. 2 %
• May 7 %
• June up 2 %

Comp sales in July up 6.9 percent to date

The company saw the highest digital sales number that they have ever seen, Digital sales grew 216 %, highest ever quarterly level sales recorded for Chipotle’s business. Chipotle Mexican grill stock is trading at $1,155.00 after hours, down 2.55 percent.  Even with in-store dining opened after temporarily closing due to COVID, the company said digital sales made up 61% of Chipotle’s Q2 Sales.

About 30 Chipotle restaurant locations will remain closed due to COVID and those stores are mainly inside malls and shopping centers.