Chipotle: Restaurant reopening
NEW YORK (AP) — Chipotle says a Virginia store that was temporarily closed because of a suspected case of norovirus will reopen Wednesday, after “multiple teams performed complete sanitizations of all surfaces.”
The store outside Washington, D.C., closed Monday after Chipotle became aware of reports of illnesses. The chain said the reported symptoms were consistent with norovirus, which can cause vomiting and diarrhea. Norovirus is a leading cause of outbreaks from contaminated food, and infected employees are a frequent source of the outbreaks, according to the Centers for Disease Control and Prevention.
Chipotle said norovirus doesn’t come from its food supply, but company shares fell more than 4 percent Tuesday, underscoring its vulnerability following its food scares in 2015. They were down again about 1.2 percent on Wednesday.
The company said Wednesday that its procedures are designed to provide quick detection in the rare cases where such events occur. It outlined a number of steps it has taken since an E. coli outbreak, such as the creation of a food safety council and the implementation of additional food handling and preparation procedures.
“We continually strive to find new and innovative ways to ensure that our restaurants are safe,” CEO Steve Ells said in a statement.
Chipotle had previously said the store in Sterling, Virginia would reopen Tuesday.
American Express 2Q profit falls
NEW YORK (AP) — Credit card company American Express said its second-quarter profit fell 33 percent, largely due to the fact that it had a significant one-time gain last year tied to the winding down of its business relationship with Costco.
The New York-based company earned $1.31 billion in three-month period ending June 30, or $1.47 a share, compared with a profit of $1.98 billion, or $2.10 a share, a year earlier. The results beat the expectations of analysts who according to FactSet were looking for AmEx to earn $1.43 a share.
American Express’ results for the quarter were distorted by the fact that in the second quarter of 2016, the company ended its relationship with Costco.
The results last year include a one-time gain of $1.1 billion from AmEx selling the Costco credit card portfolio to Citigroup. The company’s expenses rose sharply compared to a year ago, due to the tax treatment and restructuring charges AmEx had to book when the Citi deal closed.