Chipotle Mexican Grill Inc.’s net income rose 52.3 percent during the fourth quarter ended Dec. 31, with same-store sales rising 16.1 percent.
Revenue rose 26.7 percent, to $1.07 billion, during the quarter.
For the fiscal year, the chain reported net income of $445.4 million, an increase of 36 percent, with same-store sales rising 16.8 percent.
“We continue to make significant progress on our important journey to change the way people think about and eat fast food,” said Steve Ells, Chipotle’s chairman and co-CEO, in a statement. “Consumer trends are changing, which we believe is a great result of people becoming more discerning about where their food comes from, how it was raised, and how their meal was prepared.”
Loyalty from consumers, as well as third-party research and the growing number of copycat concepts, “all point to the relevance of our vision and the impact we are having on food culture,” Ells added. “We are delighted to see that this vision, a very lofty goal, is becoming a reality.”
For fiscal 2015, Chipotle expects to open 190 to 205 new restaurants. Same-store sales are expected to increase in the low to mid-single digits.
During the fourth quarter, Chipotle opened 60 new restaurants, for a total of 1,783 units, including 17 locations outside the U.S. and nine ShopHouse Southeast Asian Kitchen units. Chipotle is also an investor in two Pizzeria Locale restaurants.
4Q NET INCOME
Result: $121.2 million, or $3.84 per share% Increase: 52.3% (from $79.6 million, or $2.53 per share)
4Q REVENUE
Result: $1.1 billion% Increase: 26.7% (from $844 million)
4Q SAME-STORE SALES
% Increase systemwide: 16.1%Source: Company report
FULL YEAR NET INCOME
Result: $445.4 million, or $14.13 per share% Increase: 36% (from $327.4 million, or $10.47 per share)
FULL YEAR REVENUE
Result: $4.1 billion% Increase: 27.8% (from $3.2 billion)
FULL YEAR SAME-STORE SALES
% Increase systemwide: 16.8%Source: Company report
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