Arab Today, arab today chipotle shares fall as e coli outbreak hits sales
Last Updated : GMT 17:08:24
Arab Today, arab today
Arab Today, arab today

Chipotle shares fall as E. coli outbreak hits sales

Arab Today, arab today

Arab Today, arab today Chipotle shares fall as E. coli outbreak hits sales

Chipotle projected fourth-quarter earnings of $2.45-$2.85 per share
New York - AFP

Shares of Chipotle Mexican Grill fell Monday after the restaurant chain projected much lower-than-expected profits on plunging sales due to an E. coli outbreak in the United States.

Near 1630 GMT, Chipotle shares were down 3.2 percent at $543.31 after earlier falling as low as $515.00.

Following the market close on Friday, Chipotle erased its 2016 outlook for comparable sales, saying sales trends "have been extremely volatile" since its November 3 announcement that it had temporarily closed 43 restaurants on the West Coast due to the outbreak.

Daily sales fell as much as 22 percent at one point before recovering somewhat.

"In light of recent sales trends and additional uncertainty related to the E. coli incident, we cannot reasonably estimate 2016 comparable restaurant sales at this time," Chipotle said in the December 4 securities filing.

Chipotle projected fourth-quarter earnings of $2.45-$2.85 per share, much below the $4 expected by analysts.

Chipotle, which prior to the E. coli outbreak had been a standout among restaurant-chain stocks, said it was stepping up measures to try to avert future problems with bad or spoiled ingredients. These plans include high-resolution testing of all fresh produce and enhanced employee training.

On Friday, the US Centers for Disease Control and Prevention said it had found seven more E. coli cases linked to Chipotle, taking the case count to 52 people in nine states with 20 hospitalizations. The latest cases include victims in Illinois and Ohio in the Midwest and Maryland and Pennsylvania on the East Coast.

The CDC said it believes "a common meal item or ingredient" links the victims, but that the investigation has not identified the specific cause.

Barclays said Monday the outbreak was "all the more damaging" because Chipotle has emphasized its commitment to fresh ingredients with a big "food with integrity" public relations campaign. Barclays lowered its share price target by 18 percent to $540.

"With ongoing headlines to further pressure near-term results, we remain cautious" on the stock, Barclays said.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chipotle shares fall as e coli outbreak hits sales Arab Today, arab today chipotle shares fall as e coli outbreak hits sales

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chipotle shares fall as e coli outbreak hits sales Arab Today, arab today chipotle shares fall as e coli outbreak hits sales

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today US-made bomb used in fatal strike

GMT 10:16 2017 Saturday ,23 September

US-made bomb used in fatal strike
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday