@CompanyFence382 3 months ago
Chipotle stock just dipped (17%) massively after the sales outlook worsened
Chipotle stock just dipped (17%) massively after the sales outlook worsened
just reported Q3 revenue of around $3.00 billion, which is up around 7.5% year-on-year, but it is still below the expectations which were around $3.06 billion. The EPS matched the expectations, but the company found out a key issue that the younger customers (ages 25-34 who have income less than $100K) are visiting less and are instead eating at home more. This caused the share price to drop by almost 17%.
@Simonwhite 3 months ago
The shift toward eating at home highlights changing consumer habits that the company will need to address quickly to regain momentum.