The stock fell as much as 11 per cent to $271.11 (U.S.), wiping out Chipotle’s gains so far this year. The Mexican-inspired chain said on Tuesday that customer traffic was negative in the fourth quarter and has remained down this year. The results suggest that the Denver-based company’s turnaround is slow going, even with a modest sales increase thanks to higher prices. An attempt to add dessert to its menu stumbled, and the chain still hasn’t shown it can entice customers with new food items. The news sent the shares up, a sign investors are hopeful new leadership can help the chain bounce back after E. coli and norovirus sickened hundreds of its customers across the U.S.

Source: thestar February 07, 2018 19:07 UTC