Chipotle shares, which closed down 0.7 percent during the regular session, slid another 6.2 percent to $561.20 in extended trading.
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Federal officials say the bacteria outbreak linked to the restaurant chain now has 52 cases in nine states. Some individuals with this strain of E.coli reported eating at Chipotle Mexican Grill in the week prior to their illness. A spokesman for the Chicago Department of Public Health said it has received no complaints over the matter.
“This provides additional evidence that illnesses outside the Pacific Northwest are related to the illnesses in OR and Washington”, the CDC said. Previous cases had been reported in Oregon, Washington, California, Minnesota, New York and Ohio.
Fifty-two people have reported becoming ill with E. coli and the CDC has linked it back to the popular Mexican restaurant.
Bill Marler of Seattle law firm Marler Clark commented that people should not totally rely on a company that uses only local and fresh ingredients, since it is not immune from food safety issues. (NYSE:CMG) were released by: Investorplace.com and their article: “Chipotle Mexican Grill, Inc.: CMG Stock Is Begging to Bounce” published on November 09, 2015 as well as Fool.com’s news article titled: “Why Chipotle Mexican Grill, Inc’s High-Flying Growth Days Are Probably Over” with publication date: October 30, 2015.
IL is now on the list of states affected by Chipotle’s E-Coli outbreak.
Chipotle just warned that its sales are tanking.
Investigators are sequencing the bacterial DNA of the E. coli strain to figure out if there are other cases out there and to find a source for the outbreak, according to the CDC.
Chipotle also said it expects $2.45-$2.85 in per-share earnings in Q4, far below current analyst views for $4.06 per share, representing a 26%-36% drop from the year-ago quarter.
NEW YORK (AP) Chipotle said Friday that an outbreak of E. coli linked to its restaurants sent sales plummeting by as much as 22 percent in recent weeks and that it could no longer reasonably estimate sales for next year. Another feature will be “end-of-shelf-life testing where ingredient samples will be tested to ensure that quality specifications are maintained throughout the shelf life of an ingredient”.
Chipotle said this week that it had tightened its supplier standards in the wake of the outbreak, a move that threatens the chains longstanding pledge to buy local food.
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“In testing for pathogens, in many ways you’re looking for needles in haystacks”. “We are doing some testing now, but are really enhancing it. The high-resolution testing we are implementing now is an industry-leading program”.
