• Chipotle's shares fell over 4% following a disappointing first-quarter earnings report, marking the first decline in same-store sales since the pandemic. The company reported a 0.4% drop in same-store sales, missing analyst expectations of a 1.74% increase, and transactions fell by 2.3%. Despite a revenue increase of 6.4% to $2.88 billion, it fell short of the $2.94 billion forecast. The company has lowered its sales growth outlook for 2025, now expecting low-single-digit growth compared to previous estimates of low- to mid-single digits.

• CEO Scott Boatwright indicated that economic uncertainty is causing consumers to be more cautious with their spending, leading to a 'convenience challenge' for Chipotle. The company plans to increase its restaurant footprint to meet demand and enhance its marketing efforts. Analysts are concerned about ongoing wage inflation, competition, and potential tariff impacts on costs, particularly regarding avocados and tomatoes. Despite the challenges, some analysts maintain a positive outlook on Chipotle's brand strength and potential for traffic growth.