Chipotle Cuts Sales Forecast Again as Inflation-Hit Diners Pull Back, Shares Slump
Chipotle Mexican Grill on Wednesday cut annual sales forecast for the third time this year, warning that consumer spending on dining out is likely to remain under pressure through early 2026, sending its shares down 15% after the bell.
U.S. households earning less than $100,000 a year, which make up about 40% of Chipotle's sales, have pulled back sharply, executives said. Customers aged 25-35 years were particularly pressured, owing to rising unemployment, resumed student loan payments and sluggish wage growth, CEO Scott Boatwright said...
To Read Full Story Login Below.
Submit comment or question
Note: All comments are displayed with user's screen name. If screen name is not present, user's full name will be used. Please go to My Account to update your screen name.
Comment Policy: Urner Barry has made the comment feature available to encourage further discussion of our news stories. Defamatory or offensive comments, or comments deemed not relevant to the story will be removed, and if necessary, Urner Barry may restrict the right of individual subscribers to offer comments. In all cases, comments represent opinions of the poster only, and do not represent fact, news, opinions or estimates put forward by Urner Barry.
Email Address is required. Password is required.