Chipotle Forecasts Annual Sales Below Estimates as Consumers Pull Back
The logo of Chipotle is seen on one of their restaurants in Manhattan, New York City, U.S., February 7, 2022. (Reuters/Andrew Kelly)
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Chipotle Mexican Grill forecast annual comparable sales below Wall Street estimates on Tuesday, as budget-conscious consumers have increasingly pulled back spending on dining out amid ongoing economic uncertainty.
Shares of the company were down about 8% after the bell.
Chipotle now expects fiscal 2026 same-store sales to be about flat, compared with analysts’ estimate of a 1.86% rise, according to data compiled by LSEG.
However, its quarterly sales rose 4.9% to $3 billion from a year ago. Analysts on average expected a 4.2% increase to $2.96 billion, according to data compiled by LSEG.
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(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Pooja Desai)
