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Chipotle’s comps climb 10.4%

Investors bid down the stock price for Chipotle Mexican Grill after the burrito chain posted a year-over-year comparable-store sales gain of 10.4 percent for the first quarter, undershooting analysts’ expectation of a gain in the mid-11-percent range.

Profits leapt 47.6 percent, to $122.6 million, on a 20.4 percent rise in revenues, to $1.09 billion.

The company acknowledged that its comparable-store sales gains were generated mostly by an increase in average check, which some stock analysts noted as a point of concern.

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