Chipotle misses revenue target as younger customers cut back

Why Chipotle Stock Plummeted 18.2% Today

Key PointsChipotle is struggling to get customers in the door as younger consumers tighten their belts.The company expects its same-store sales to decline for the full year after previously projecting growth. 10 stocks we like better than Chipotle Mexican Grill › Shares of Chipotle Mexican Grill (NYSE: CMG) fell on Thursday, finishing the day down 18.2%. The move came as the S&P 500 and the Nasdaq Composite lost 1% and 1.6%, respectively. The fa…

Chipotle CEO sounds alarm on the American economy: Gen Z and millennials are too burdened by unemployment and student loans to eat out

“We're not losing them to the competition. We're losing them to grocery and food at home,” Scott Boatwright said.

Chipotle CEO Says Gen Z Is Eating Out Less — But He’s Not Lowering Prices - Chipotle Mexican Grill (NYSE:CMG)

Chipotle Mexican Grill Inc's (NYSE:CMG) cult following may not be recession-proof after all. CEO Scott Bowright admitted during Chipotle’s third quarter earnings call that younger and lower-income consumers are pulling back — but he's drawing a firm line: no discounts. Track CMG stock here. "We're losing lower-income and younger consumers to grocery," Bowright said, underscoring that even the most beloved burrito brand isn't immune to tightenin…

Chipotle misses revenue target as younger customers cut back

Chipotle Mexican Grill fell short of Wall Street revenue expectations for the third quarter. The company announced it missed its goal by about $30 million as younger customers made fewer visits amid rising costs and slower wage growth.  Revenue falls short, but growth continues The fast-casual chain reported $3 billion in third-quarter revenue, compared to analyst expectations of $3.03 billion. Despite the shortfall, revenue was still up 7.5% fr…

Chipotle says it's lost steam with Gen Z and millennial customers due to unemployment, student loans, and stagnant wages

Chipotle said younger customers are buying its products less frequently.Michael M. Santiago/Getty ImagesChipotle said younger and lower-earning customers are patronizing its restaurants less than they used to.CEO Scott Boatwright said they're bogged down by unemployment, student loans, and slow wage growth.Fast food chains, including Chipotle, have seen slumping sales as customers opt to eat out less.Chipotle has a Gen Z and millennial problem.B…

Fast-Casual Restaurant CEOs Say Younger Consumers Are Cutting Discretionary Spending

Younger consumers are reportedly cutting down on their trips to restaurants due to the challenges they face in the labor market. Executives from fast-casual restaurant chains Chipotle and Shake Shack said during earnings calls that the industry is being impacted as younger consumers cut back on their spending, Bloomberg reported Wednesday (Oct. 30). The report said recent college graduates are struggling to find entry-level work in the…