Chipotle’s same-store sales declined in the first quarter for the first time since the COVID-19 pandemic, as consumers appear to be cutting back on spending to save money amid economic uncertainty. Despite price hikes, the company said its meals were still affordable and priced lower than the competition.
On April 23, the popular Mexican restaurant chain reported a 6.4 percent increase in total revenue from the previous year, to $2.9 billion, due to new restaurant openings.
