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The love fest with Chipotle continues

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Shares of the Mexican burrito chain Chipotle Mexican Grill, Inc. (NYSE:CMG) are advancing this morning on stellar first quarter earnings. As a result of heavy traffic, same store sales rose 13.4 percent in the quarter. In addition, revenue for the quarter leaped 24.4 percent from the same period a year ago to $904.2 million. Moreover, profits surged 8.5 percent in the quarter to $83.1 million. Chipotle’s numbers beat everything out the box! For 2014, the company expects to open about 180 to 195 new restaurants. The company is also predicting comparable same store will be in the high single digit range for 2014.