"Chipotle reported net income of $436.1 million (32 cents per diluted share), a decrease from $455.7 million (33 cents per diluted share) year-over-year."
"While Chipotle reported a 3% increase YOY in total revenue, it credited the $3.1 billion sum to the opening of 61 new restaurants."
"Much of what we're experiencing right now is due to macro and the consumer. The low-income consumer is looking for value as a price point at present."
"Fast food restaurants saw a 0.9% decrease in traffic YOY during quarter two, according to a report published this month by Revenue Management Solutions (RMS)."
Chipotle Mexican Grill's second-quarter financial results revealed a disappointing performance, with net income falling to $436.1 million from $455.7 million year-over-year. Despite a 3% increase in total revenue attributed to the opening of 61 new restaurants, comparable sales declined by 4%. The CEO cited ongoing volatility in consumer trends, particularly among low-income diners seeking value. Additionally, tariffs contributed to increased costs, while fast food restaurants overall experienced a decline in traffic and a smaller increase in average bills compared to previous quarters.
Read at Fast Company
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