Chipotle stock falls after 'tightening' consumer spending leads to second earnings miss in five years

Shares of Chipotle Mexican Grill Inc. fell in late trading Tuesday after the fast-casual Mexican chain missed expectations for holiday earnings amid “tightening” consumer spending and more expensive burritos.

The results mark only the second time in five years that Chipotle CMG reported earnings per share that came up short of Wall Street’s expectations. The last time that happened was the same quarter in 2020. “With consumer discretionary spending tightening, we are focused on running great restaurants and delivering excellent customer and employee experiences,” Chief Executive Brian Niccol said in a statement.

this is the reason:

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Chipotle Mexican Grill misses expectations for earnings, revenue and same-store salesThe burrito chain has been raising prices to offset higher food and labor costs. Are you ever gonna cover how many manipulated the market is? How can you miss earnings expectations when a huge part of the reason is the fact that your stores are never properly stocked with the ingredients needed to make the food? Wouldn't that tell you something? Cause they suck!
Source: CNBC - 🏆 12. / 72 Read more »