Chipotle stock drops after 3Q profit, sales miss

Chipotle stock drops after 3Q profit, sales miss

Officials keep 2013 projections conservative in anticipation of commodity inflation

Chipotle Mexican Grill reported on Thursday a nearly 20-percent increase in profit for the third quarter, despite increasing signs that consumers are cutting back.

For the quarter ended Sept. 30, Chipotle reported net income of $72.3 million, or $2.27 per share, an increase of 19.6 percent over earnings of $60.4 million, or $1.90 per share, in the prior year.

The results, however, were lower than expected, sending the stock price tumbling in after-hours trading Thursd

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