Chipotle Shares Drop After Missing Sales Projections

The fast-casual chain's same-store sales growth fell short of expectations, leading to a decline in stock value.

Chipotle's same-store sales increased by 6% in the third quarter, below analysts' expectations of 6.3%.
Revenue for the quarter rose 13% to $2.8 billion, slightly missing the anticipated $2.82 billion mark.
Shares fell by over 4% in after-hours trading, despite a 30% rise in stock value earlier this year.
Interim CEO Scott Boatwright continues to lead the company following the departure of former CEO Brian Niccol.
Chipotle plans to open between 285 and 315 new restaurants this year, maintaining its expansion strategy.