Overview

• Chipotle’s same-store sales tumbled 4% in the second quarter, exceeding analysts’ expected 2.9% decline.
• Second-quarter revenue reached $3.1 billion and adjusted EPS was $0.33, in line with analyst forecasts despite fewer customer transactions.
• The company revised its full-year comparable-sales forecast to flat, down from its prior low-single-digit growth target.
• Shares plunged about 10% in after-hours trading as investors reacted to the steeper sales drop and tempered outlook.
• Chipotle opened 61 new restaurants, including 47 with Chipotlane drive-thrus, and rolled out menu tweaks and loyalty offers to bolster demand.