BUZZ-Chipotle shares rise as quarterly sales exceed expectations

October 28 - ** Shares of Mexican food chain Chipotle Mexican Grill (CMG.N) rose about 3% in after-hours trading, at $29.50

** Thanks to stable traffic driven by value deals and limited-time promotions, the company's (link) third quarter sales surpassed market expectations

** According to data compiled by London Stock Exchange Group (LSEG), the company's third quarter same-store sales grew 2.1% year-on-year, beating the market expectation of 1.4%

** Quarterly revenue increased by 9.6% to $3.29 billion, in line with market expectations

** However, due to rising costs for labor, packaging, and raw materials, CMG missed quarterly adjusted earnings per share expectations

** As of the close of the previous trading day, the stock had fallen about 23% year-to-date

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