Halister News

(Bloomberg) -- Chipotle says “July sales comp trends have already improved by 200 to 300 basis points, and transaction comp trends have improved by an even greater amount.”

• CMG says marketing efforts led by Chiptopia frequency program “off to a nice start” in 3Q; says almost 30% of all transactions are “engaged in Chiptopia”
• Shares up 2.6% post-market (vol. 194k) after earlier falling as much as 5.8%
• 2Q EPS 87c, est. 91c
• 2Q rev. $998.4m, est. $1.05b (range $1.01b-$1.09b)
• 2Q comparable sales -23.6%, est. -20.6% (compiled by

Consensus Matrix)

• Still sees 220-235 new restaurant openings for ’16
• 2Q restaurant level oper. margin 15.5%, down from 28% y/y
• 2Q food costs as 34.2% of rev., up 110bps y/y
• Call 4:30pm, 800-316-8317

Statement DATA

• Implied 1-day share move following earnings 8.2%:

Bloomberg data

• Shares have fallen following 8 of previous 12 earnings

announcements; beat adj. EPS ests. in 9 of those 12

• 13 buys, 17 holds, 5 sells, avg PT $452: Bloomberg data