Chipotle earnings preview: Resilient foot traffic, higher menu prices expected to boost Q1 results

Chipotle is expected to ring up another bowl of positive earnings, as investors wait for the latest numbers after the bell on Wednesday., which are priced at a premium, can help boost results against a difficult macro consumer backdrop. The chain, which saw its foot traffic hold up in 2023, is battling against higher labor costs and sticky inflation — though it implemented higher prices to offset those headwinds.

SAN RAFAEL, CALIFORNIA - APRIL 01: Workers help a customer at a Chipotle restaurant on April 01, 2024 in San Rafael, California. which increased fast food wages to $20 per hour, impacted its business there. Analysts had agreed that Chipotle is among companies who have the brand power and fan base to adjust to the change.

"They've built quite a bit of momentum in their business with respect to traffic," Citi analyst Jon Tower told Yahoo Finance. -- Two and a half years ago, Tesla Inc. was worth almost $1 trillion more than Toyota Motor Corp., the world’s second-most valuable automaker.Most Read from BloombergBiden’s Gains Against Trump Vanish on Deep Economic Pessimism, Poll ShowsTaylor Swift Is Proof That How We Critique Music Is BrokenBiden’s New Chopper Is Demoted After Scorching White House LawnTesla Soars as Musk’s Cheaper EVs Calm Fears Over StrategyLately, that lead has been shrinking fast.

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