Chipotle Mexican Grill Inc. said it will seek strategic alternatives for its ShopHouse brand restaurants, after the Southeast Asian cuisine chain failed to gain traction. In a conference call with analysts, after Chipotle reported third-quarter earnings that missed expectations, the company said that ShopHouse "hasn't demonstrated the ability to support an attractive unit economic model," according to a transcript provided by FactSet. The ShopHouse concept started in 2011, and how has 15 restaurants in three markets. Chipotle said it took a $14.5 million charge to fully impair the assets related to ShopHouse. Chipotle's stock, which was little changed in recent after-hours trade, has tumbled 15% year to date, while the S&P 500 has gained 4.9%.
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