How Vulnerable Is CMG to Low-Income Weakness and Trade-Down Trends?

Key Takeaways Chipotle expects full-year comps to dip in the low single digits amid softer transactions.Lower-income households and adults 25-34 are cutting visits and shifting toward food-at-home.Chipotle targets experience upgrades, HEAP rollout and menu innovation to drive recovery.Chipotle Mexican Grill, Inc. (CMG) is confronting one of the most pronounced shifts in its demand profile, as the company’s core consumer base shows meaningful signs of strain. Management noted multiple step-downs in underlyin ...