Increased Chipotle sales with higher prices and more digital sales

The increase in revenues is due to the opening of new restaurants and a 4.4% increase in sales of comparable restaurants. Analysts surveyed by FactSet have estimated a 5% increase in same-store sales.

Rising prices contributed to a 3.8% increase in the average amount spent per visit per client. The volume of transactions, however, decreased by 1.1%.

The Newport Beach, Calif.-based company reported third-quarter earnings of $ 38.2 million or $ 1.36 a share, up from $ 19.6 million or 69 cents a share a year earlier . Adjusted earnings were $ 2.16 per share versus $ 2 expected by analysts surveyed by Refinitiv.

For 2018, the company confirmed its earlier forecast of comparable increases in restaurant sales in the low and medium figures. It is also expected that new restaurant openings will be at the lower end of the previously announced range of 130 to 150 for the entire year.

Equities, up 53% from the previous year, rose 3.8% to $ 440.13 after Thursday afternoon.

Chipotle CEO Brian Niccol said he is considering making changes to the channel's menu, closing underperforming stores, testing new menu items, and removing hierarchies. He also planned to market the company's food more intelligently and boost digital sales by installing collection shelves in restaurants where customers could collect orders via mobile.

Mr. Niccol, former CEO of Taco Bell, replaced Chipotle founder Steve Ells in March to help transform the chain of restaurants.

Chipotle, which has struggled to reclaim its customers for more than two years, is trying to improve sales growth and strengthen its reputation after a series of food security crises.

Write to Aisha Al-Muslim at [email protected]