Spiking Costs Are Pressuring Chipotle's Earnings

Investors had high expectations heading into Chipotle's (NYSE: CMG) third-quarter earnings report. Following a difficult, pandemic-influenced Q2, the chain showed signs of a quick return to robust sales growth at existing locations in the summer months. Management suggested back in late July that they saw plenty of opportunities to build stronger market share, too, by investing in the drive-through platform and taking advantage of cheaper restaurant real estate.