Reported about 6 hours ago
Chipotle has once again lowered its sales forecast for the third quarter, marking the third consecutive time this year, as the company grapples with declining customer traffic and economic pressures, particularly among younger consumers. In response to this news, Chipotle's stock plummeted over 18%, reflecting a more than 35% decline in value this year. CEO Scott Boatwright pointed to persistent macroeconomic challenges and highlighted that low- to middle-income guests have been reducing their visits. Despite an increase in revenue and digital sales, Chipotle is focusing on improving customer engagement and introducing new offerings to stimulate growth.
Source: YAHOO