Chipotle Mexican Grill (NYSE: CMG) reported revenue of $1.4 billion, up 7.8% year-over-year. Net income was $76.4 million, or $2.70 per diluted share compared to $88.1 million, or $3.13 per diluted share in the first quarter of 2019.
Company’s digital sales grew 80.8% and accounted for 26.3% of total sales. Comparable restaurant sales increased 3.3%. COVID-19 had a negative impact on the comparable restaurant sales during the month of March, resulting in a decline of 16.0%.
Shares of FedEx Corporation (NYSE: FDX) were up 1% on Tuesday. The stock has dropped 44% year-to-date and 34% over the past 12 months. The company delivered mixed results for
After a soft start to the year, the IPO market has witnessed muted activity so far though a few big companies entered the stock market. On the heels of AIG
After a prolonged slowdown, the restaurant industry is returning to normal patterns but macroeconomic uncertainties and high inflation are currently playing spoilsport for it. While the pandemic-related slump forced many