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Chipotle Mexican Grill Stock Slides Amid Consumer Pullback, Pins Hopes on New Adobo Ranch Dip
Chipotle Mexican Grill Stock Slides Amid Consumer Pullback, Pins Hopes on New Adobo Ranch Dip
22
3
Chipotle Mexican Grill (NASDAQ:CMG) shares declined nearly 1.5% in Monday's trading session as broader restaurant demand weakens. The chain's response—a new adobo ranch condiment launching June 17—marks its first new dip offering since 2020's queso blanco release.
The MOVE follows disappointing same-store sales growth last quarter, where even the introduction of honey chicken failed to lift performance. While adobo ranch leverages the popularity of traditional ranch dressing with a spicier profile, it faces headwinds from shrinking consumer spending across the dining sector.
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