Chipotle Stock Plummets 20% Amid Weak Earnings and Consumer Pullback
Chipotle Mexican Grill's stock (CMG) tumbled 17% on Thursday after disappointing quarterly earnings, extending its weekly decline to over 20%. The company cited macroeconomic pressures and a sharp reduction in visits from its Core demographic—25- to 34-year-olds earning under $100,000 annually. CEO Scott Boatwright acknowledged these consumers are shifting spending toward groceries and home meals.
The fast-casual chain trimmed its full-year comparable sales forecast, warning that middle- and low-income consumer pressure may persist through 2026. Despite CMG's 70% rally between 2020-2024, analysts now question its near-term growth trajectory as menu innovation and digital upgrades attempt to offset weakening demand.