Chipotle Mexican Grill reports 7.4% revenue loss for FY17

The fast casual chain aims to focus on labour costs and their supply strategy for the current period.

Chipotle has reported their financial results for the financial year ended last December 31 with a revenue loss of 7.4% from £7.8 million to £7.2 million.

Gross loss is £1.2 million, showing a 33.7% decrease from the prior year. Administrative expenses rocketed up 103% to £5.3 million from £2.6 million.

“Our sales and profitability were adversely impacted throughout 2017 because of many terrorists activities that occurred throughout Europe as well as a food-borne illness (FBI) incident associated with a Chipotle restaurant in the United States,” Chipotle stated in the report.

“Refining our long term supply strategy for our European locations remains an important objective. We also continue to focus on labour costs as we strengthen our teams and become more efficient in serving our customers.”