Chipotle Mexican Grill Inc. continued to post same-store sales gains in its second quarter, booking a 10% increase for the period ended June 30, the company reported Tuesday.
The Newport Beach, Calif.-based fast-casual brand said same-store sales improved primarily because of a nearly 7% increase in comparable restaurant transactions and a 3.5% increase in the average check.
The company said average check included a benefit from menu price increases that were implemented during 2018 and partially offset by 40 basis points “as a result of deferred revenue from our Chipotle Rewards loyalty program.”
Brian Niccol, Chipotle CEO, said in a statement that the same-store increase reflected the sixth consecutive quarter of accelerating comparisons. "These strong results were delivered despite a tougher year over year comparison and benefited from better restaurant operations, more effective marketing and leveraging our digital make line to grow sales and expand access,” Niccol said in a statement.
For the second quarter, Chipotle reported net income of $91 million, or $3.22 a share, up from $46.9 million, or $1.68 a share in the same period last year. Revenues were $1.43 billion in the most recent quarter, compared to $1.27 billion in the same quarter last year.
As of June 30, Chipotle had 2,523 restaurants in the United States, Canada, the United Kingdom, France and Germany.
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