Companies

Price Hikes Slow Down Chipotle’s Growth, Disappointing Wall Street

Price Hikes Slow Down Chipotle’s Growth, Disappointing Wall Street
A customer orders food at a Chipotle restaurant in San Francisco on April 26, 2022. Justin Sullivan/Getty Images
Panos Mourdoukoutas
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A more expensive menu, which has helped Chipotle Mexican Grill pass on the cost of inflation to its customers in the last couple of years, is beginning to cool off the company’s feverish growth.

On Oct. 29, the popular Mexican restaurant chain reported an annual sales growth of 13 percent in the third quarter, down from 18 percent in the second quarter.
Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”