Chipotle says payment system was hacked

Unauthorized activity detected from March 24 through April 18

Chipotle Mexican Grill Inc. said on Tuesday that it detected unauthorized activity on its payment system this spring.

The company did not have details about the extent of the hack, and how many restaurants or customers could have been affected. CFO Jack Hartung said during the company’s earnings call on Tuesday that the hack affected the company’s credit card systems from March 24 through April 18.

Chipotle Mexican Grill Inc. said on Tuesday that it detected unauthorized activity on its payment system this spring.

The company did not have details about the extent of the hack, and how many restaurants or customers could have been affected. CFO Jack Hartung said during the company’s earnings call on Tuesday that the hack affected the company’s credit card systems from March 24 through April 18.

Hartung said the company immediately began an investigation, working with cyber security firms.

“We believe the actions taken have stopped the unauthorized activity,” he said.

The news put a damper on an otherwise strong first-quarter earnings report for the Denver-based burrito chain.

Chipotle reported 17.8-percent same-store sales growth in the quarter ended March 31, along with improved profit margins. The numbers were unexpectedly positive and led to a spike that at one time put Chipotle’s stock price above $500 a share for the first time since February 2016.

After Chipotle revealed news of the hack, the stock price fell below $480.

Just another day at the office.

 

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