Chipotle Passes Its First Coronavirus Test
Chipotle Mexican Grill (NYSE: CMG) was one of the hottest restaurant chains in the business before the coronavirus pandemic hit. The burrito roller had been generating double-digit comparable sales growth, and had again won the acclaim of investors as the stock had more than tripled from a bottom in 2018 before new CEO Brian Niccol took the helm.
However, like every other restaurant company, Chipotle is clearly vulnerable to the outbreak and the lockdown orders, which have shut down restaurant dining rooms and forced chains to limit themselves to takeout and delivery.
Thanks to a strong start to the first quarter, Chipotle's results for the period held up well considering the impact of COVID-19. You can see the headline numbers below:
Source Fool.com
