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Chipotle profit up 75% in 3rd Q

DENVER Higher customer traffic and the addition of 28 more branches helped Chipotle Mexican Grill, now comprising 670 namesake burrito restaurants, boost third-quarter revenue by nearly 36 percent, yielding a nearly 75-percent leap in net profit for the three months ended Sept. 30.

Corporate revenue was $286.4 million and net income was $20.6 million, or 62 cents per diluted share.

Executives of the Denver-based fast-casual chain said same-store sales at Chipotle locations open more than 13 months rose 12.4 percent over results of last year’s third quarter. The company expects same-store sales also to rise by a low-double-digit increment for the fourth quarter.

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