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The latest bad news for Chipotle doesn’t involve food

Chipotle beat earnings expectations today, with same-store sales growing 17.8% and revenue rising to $1.07 billion over the last quarter. But there was an asterisk pinned on that good news: The company is investigating “unauthorized activity” on a “network that supports payment processing” at Chipotle restaurants. 

The investigation centers around in-store transactions that took place between March 24 and April 18. Since then, a spokesman said, the company has “implemented additional security enhancements.”

Chipotle plans to alert affected customers “as we get further clarity about the specific timeframes and restaurant locations,” he added.

Shares climbed nearly 7% after Chipotle first published its earnings report, but dropped back to around $471 after the company disclosed the investigation. 
[Photo: proshob via Wikimedia Commons]AH