New York — Chipotle Mexican Grill saw its stock tumble by 9% in after-hours trading on Wednesday after the company lowered its same-store sales growth forecast for 2025, citing a second straight quarter of declining customer traffic.
The fast-casual chain now expects flat same-store sales this year, down from earlier projections of low-single-digit growth. In Q2, Chipotle’s same-store sales fell 4%, a sharper decline than the 0.4% drop in Q1.
Total revenue came in at $3.06 billion, missing Wall Street estimates of $3.11 billion. Net income stood at $436.1 million, or 32 cents per share, compared to 33 cents a year earlier. Adjusted earnings per share were 33 cents, meeting expectations.
Customer traffic dropped 4.9%, though a 1% rise in average check size helped offset some of the decline. CEO Scott Boatwright said sales began to recover in June, supported by summer deals and new menu items like the Adobo Ranch dip.
Chipotle reiterated plans to open 315 to 345 new restaurants in 2025 and expressed confidence in returning to mid-single-digit comp growth long term.
