Chipotle made slight progress during the second quarter in its struggle to win back customers after last year’s food safety crises, stemming the year-over-year decline in same-store sales at 23.6% on a 19.3% drop in customer counts.
For the first quarter of 2016, the company posted a 29.7% drop in same-store sales and a 21.1% fall in transactions.
Revenues for the quarter ended June 30 decreased 16.6% to just under $1 billion, and the company swung back into profitability, posting a net income of $25.6 million. The figure marks an 82% decline from the profit for the same period of the prior year. During the first quarter of this year, Chipotle posted its first-ever loss as a public company, at $26.4 million.
“We returned to profitability, and saw a modest improvement in comp sales trends in the second quarter,” said founder and co-CEO Steve Ells. “Our most recent marketing efforts, led by our Chiptopia frequency program, are off to a nice start in the third quarter, as customers are embracing the program and nearly 30% of all transactions are engaged in Chiptopia.”