Chipotle profit rises nearly 18% in 2013

Chipotle profit rises nearly 18% in 2013

Fast-casual operator opened 185 new restaurants during the fiscal year

Denver-based Chipotle Mexican Grill Inc. grew its full-year net income nearly 18 percent in fiscal 2013, ended Dec. 31, on the strength of 185 new restaurant openings and a same-store sales increase of 5.6 percent. Restaurant-level margins decreased slightly, by 0.5 percent, to 26.6 percent of sales at the 1,595-unit fast-casual chain, reflecting higher food costs partially offset by favorable leverage from higher sales.

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