(Continued from page 1) In other news from the analyst call, Chipotle officials said higher food costs during the first quarter cut into restaurant-level operating margins, which narrowed from 27.4 percent last year to 26.3 percent. Jack Hartung, the chain’s chief financial officer, said food costs were expected to stabilize for the rest of the year, but the chain is still considering a menu price increase — though it would not come before late summer or fall. Steve ...
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Contact: Desiree Torres Desiree.Torres@penton.com