by Karl Utermohlen | April 17, 2014 12:43 pm
Zoe’s Kitchen’s (ZOES) stock skyrocketed on Thursday following Chipotle’s (CMG) quarterly earnings report.
The Mexican food chain’s first-quarter revenue easily topped analysts’ estimates. ZOES stock is up about 4% on Thursday following the report.
Chipotle’s March sales rose 24% to $904.2 million, making it the chain’s largest quarterly gain in two years. Analysts projected $873.5 million in March sales and an 8.8% increase.
Zoe’s Kitchen only has 111 restaurants in the U.S., but analysts see ZOES stock as having plenty of upside despite being a bit pricey.
CMG stock is down about 1.6% in early afternoon trading Thursday.
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