CHIPOTLE STOCK CRATERS AS WALL STREET GROWS 'CONCERNED' AFTER COMPANY CUTS FORECAST
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✍️ Chipotle Mexican Grill's shares plummeted 19% after the company cut its full-year same-store sales forecast for the third straight quarter, citing shrinking traffic and a gloomy outlook.
👉 Chipotle's shares fell 19% after cutting its full-year same-store sales forecast 👉 Same-store sales rose 0.3% in the third quarter, but traffic fell 👉 Analysts attributed the slowdown to industry-wide challenges, including inflation, unemployment, and slower real wage growth 👉 CEO attributed the decline to diners visiting less frequently, particularly those between the ages of 25 and 35
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