NEW YORK- Chipotle Mexican Grill, the gourmet restaurant chain and former subsidiary of McDonald's reported spicy results after the closing bell today. Chipotle stock soared nearly 5% in after hours trading on these hot results. Revenue increased 23% to $477 million and net income increased 10% to $48 million compared to prior year's quarter. Comparable restaurant sales increased 8.3% for the 9 months ended September 30th.
Year to date Chipotle has opened 67 new restaurants and expects to nearly double this amount by year end. This will be followed by another 130 new restaurant openings in 2011.
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