DENVER, April 17 (UPI) -- Chipotle said it will increase the prices on its menu owing to rising prices of ingredients, specifically the surging costs of beef and avocado.
The Denver-based company reported its first quarter earnings, with net income rising eight percent to $83.1 million, or $2.64 per share. That's up from $76.6 million, or $2.45 per share, a year ago, but still below analysts' expectations of $2.84 per share.