Chipotle’s Sales Miss Points to Weakening Consumer Sentiment

Chipotle Mexican Grill Inc. sales dipped into negative territory for the first time in almost five years in the first quarter and the company lowered its full-year outlook, showing that economic uncertainty is prompting diners to pull back on burrito outings.

Comparable sales fell 0.4%, below the average estimate of 1.7% growth from analysts. A decline in transactions drove the decline, a reversal from recent quarters in which Chipotle had managed to attract more diners even as peers struggled.

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