Chipotle Mexican Grill (CMG), an US$18-billion restaurant famous for its burritos, raised prices in April to make up for the increase in prices of their ingredients, but the move did not prevent the sales of the company from reaching its all time high, according to Fox Business.

Chipotle increased their menu prices by an average rate of 6.5 percent; this however, did not affect the revenue of the company, which plans to add 180 to 195 new restaurants all over the U.S. as the management expects more sales increase.

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When the U.S. stock market closed on Monday, the Mexican grill famous for its burritos had an estimated market value of US$18 billion.

The restaurants stock, which was at US$400 last year, went up to US$646.71 this year, increasing by almost 10 percent.

The increase was not expected following their price increase and the instability of other restaurant chains amid economic crisis.

Monty Moran, co-chief executive officer of Chipotle, said that the restaurants have had an increase of eight transactions during lunch hour.

Moran also commended the crew for their quick service, saying that the reason people line up at their stores and not go anywhere else is because of their excellent team of food servers who are always prepared to provide customers with their meal.

Chief financial officer Jack Hartung said that the sale increase was due to an increase in order size per transaction.

Hartung added that some customers who would normally order steak have converted to chicken because of the 9 percent increase in beef prices compared to the 5 percent increase for chicken.

He said that even with the increase in sales, they would still have to create market strategies for customer retention.

Tagschipotle, April, revenue, menu prices