Chipotle Is Seeing a 'Significant Pullback' in Younger Customers. Its Stock is Getting Hammered.
1. Chipotle cuts its sales forecast citing customer pullback from ages 25-34. 2. Third-quarter revenue missed expectations, showing $3.00 billion instead of $3.06 billion. 3. Persistent macroeconomic pressures are driving consumers to cook at home. 4. The stock fell 17% and is trading at 2023 lows. 5. Lower-income diners contribute significantly to Chipotle's current challenges.