Chipotle shares rise as customers return to fast-food

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The customers order from a Chipotle restaurant at the King of Prussia Mall in King of Prussia, Pennsylvania, United States of November 22, 2019. REUTERS Mark Makela Mark makela On Wednesday, Chipotle Mexican Grill Inc. said its comparable sales for this quarter could grow by as much as 30% as convenient COVID 19 vaccinations encourage consumers to return to its restaurants that offer quick service in a casual dining space. Shares rose slightly after hours trading after the Burrito chain reported comparable sales in the first quarter at 17.2%, helped by new menu items like quesadillas and the ability of consumers using Federal Pandemic Relief Funds to order tacos and salads online. The digital sales accounted for almost 134% in the first quarter and surged for half of the company's overall sales, the company said on Wednesday. The company's digital sales have grown rapidly during the pandemic and encouraged it to expand Chipotlanes to a majority of its restaurants in the United StatesUnited States. The revenue rose to $1.74 billion in June according to the Refinitiv data from IBES. While the company reiterated that it expects to open 200 new restaurants in 2021, it continued to shy away from elaborating full-year revenues and sales forecasts.

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