Chipotle Mexican Grill’s stock took a big hit from investors worried that years of fast growth are over. The culprit? A one-two punch of slowing growth and high food costs caused by this summer’s drought. Chipotle said third-quarter revenue and net income both grew, but slower than last year. The chain also missed estimates. Another concern was a weakening sales forecast. Chipotle predicted revenue growth in stores open at least a year would be flat to up in the low-single-digits next year. That is down from this year, when it expects it to be up in the midsingle-digits, and lower than last year’s gain.
Chipotle falls on growth worries
Associated Press October 20, 2012
Read it all, now.
Don't miss any of your favorite stories again. Read the stories that matter to you as much as you want, whenever you want when you subscribe to BostonGlobe.com.
Get full access today for just 99¢