Chipotle cuts same-store sales forecast for third straight quarter

Core Insights - Chipotle's third quarter results are in line with expectations, but the company has lowered its full-year same-store sales guidance to a low single-digit decline from a prior forecast of flat [1][2] - Earnings per share (EPS) for the quarter is reported at 29 cents, with revenue also in line at $3 billion [1] - Same-store sales increased by 0.3%, while the average check rose by 1.1%, but traffic fell by just under 1% [1][2] Financial Performance - Restaurant margin stands at approximately 24.5%, which is 1% lower than analyst estimates due to increased costs for beef and chicken, as well as the impact of tariffs [2] - The company is experiencing a notable decline in spending from consumers earning under $100,000 annually, particularly among the 25 to 34 age group [3] Consumer Behavior - There is a measurable pullback in spending from younger consumers, who are reportedly eating at home more often rather than dining out [3] - Despite the decline in spending, the company is still gaining market share within this demographic, although overall spending in restaurants is down due to macroeconomic pressures [4] Strategic Response - The company plans to enhance its messaging around value propositions to address the changing consumer behavior and economic conditions [4]