Chipotle shares rise as burrito chain sharpens focus on traffic revival

Oct 29 (Reuters) Chipotle Mexican Grill shares rose 7% in premarket trading on Thursday on signs CEO Scott Boatwright s efforts ​to bring back diners with new ‌menu launches and a marketing push were paying off. The burrito chain expects to exit the current quarter with comparable sales up around 3% to 4%, ‌from ​the 2.1% rise posted ⁠in the three months ⁠through September, executives said on a post-earnings call on Wednesday. Here are some details: • Earlier this week, the company said it was ​bringing back its smoked brisket for a limited period starting November 5, in ⁠time for the holiday ⁠and football season • Chipotle is countering ​costlier beef and higher freight charges from soaring ​diesel prices by raising menu prices by ‌about 3% in the fourth quarter • Operating margin dropped to 13.7% in the third quarter from 15.9% a year earlier, and ⁠adjusted earnings per share of 27 cents missed estimates • We underappreciated Chipotle s willingness to sacrifice margin and invest ⁠