Chipotle Mexican Grill Inc. reports third-quarter results after the market closes Thursday amid concerns about consumer spending.
“While year-over-year foot traffic trends indicate that neither chain is immune from the ongoing economic headwinds — both Chipotle and McDonald’s are well-positioned to continue their winning streak,” Bracha Arnold of Placer.ai wrote in a recent blog post. “McDonald’s and Chipotle have both focused on innovation and menu enhancements in recent years, positioning themselves well to address industry challenges.
“We view the size of CMG’s menu pricing as both a sign of confidence in strong traffic trends, but also an indication that management expects continued operating cost inflation into ’24,” Jake Bartlett wrote earlier this week. Revenue: Analysts tracked by FactSet expect the restaurant chain to report third-quarter revenue of $2.47 billion, up from $2.22 billion in the same period last year. Same-store sales are expected to be up 4.5%, according to FactSet.
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