The value of the index rose by 0.65% to its all time high. This though is small compared to the performance of Chipotle Mexican Grill, which had become the best performing listed stock in the S&P 500 today. WIth reported earnings of USD2.66 per share, which is still below market expectations of USD2.78 per share.
The performance of Chipotle is expected as it had seen 105% growth in revenue over the past five years. Its net income rose by 255.5% over the same time. It had seen a massive increase in its share price even if at times it would experience an earnings miss.
In the company's third quarter, comparing its results to the same quarter last year, a number of positive results have been seen. Amongst them is 15.3% net profit increase from USD72.3 million last year to USD83.4 million this yeae. The increase can be attributed to the increase in its advertising spending as it opened 37 new stores. Aside from the store openings, there was also same store sales increase by 6.2%.
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