Chipotle skids as sales grow at far slower pace
7/20/12 9:55 AM ET (MarketWatch)
SAN FRANCISCO (MarketWatch) -- Chipotle Mexican Grill shares skidded 20% to $323.86 Friday morning amid slower sales growth at the burrito chain as well as stepped up competition from rivals. Chipotle reported late Thursday comparable restaurant sales rose 8% during the quarter ended June 30, its slowest rate since early 2010. Chipotle shares are now 27% off their mid-April 52-week high of $442.40.