Chipotle's second-quarter operating margin fell to 15.7% from 18.2% a year earlier, reflecting cost pressures across several categories. Food, beverage, and packaging costs rose to 29.7% of revenue from 28.9%, driven by inflation in beef and freight along with higher protein and produce usage. Labor costs climbed to 25% from 24.7%, with the company citing wage inflation, performance bonuses, and additional staffing to support hospitality initiatives. Menu price increases only partially offset these headwinds, the company said

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