Chipotle Mexican Grill cuts annual comparable sales growth target, shares drop
Its shares were down 7% in extended trading. They have fallen about 13% so far this year.
Dining out in the United States has been under pressure over the past several quarters due to a significant rise in menu prices, prompting consumers to prepare meals at home to stretch their budgets.
President Donald Trump's tariff policy could drive prices even higher as companies face the prospect of higher supply chain costs.
Chipotle now expects annual comparable restaurant sales to be about flat year-over-year, compared with its prior target of growth in the low single-digit range.
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