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Chipotle Profit Misses as Sales Growth Slows

Chipotle restaurant workers fill orders for customers in Miami.

Sales at restaurants open more than 12 months grew 2.6%, edging in above the 2.4% increase analysts had expected, according to FactSet data.

But growth in the metric slowed significantly from the 19.8% growth that it posted in the same period a year ago and the 4.3% rise in second quarter.

Chipotle was once one of only a handful of alternatives to fast food for those eating on the go, but it is now facing competition from a throng of chains seeking...