Chipotle Says Younger, Lower-Income Customers Are Squeezed -- Market Talk

Dow Jones

Oct 30, 2025

1821 ET [Dow Jones]--Chipotle Mexican Grill is experiencing particular weakness among middle-income and younger diners, Chief Executive Scott Boatwright tells analysts. Third-quarter performance fell short of expectations, as low- and middle-income guests reduced the frequency of their visits. Boatwright says households earning below $100,000 represent about 40% of Chipotle's sales. Customers aged 25 to 35 are also especially challenged. Boatwright says that trend is occurring across all restaurants, as that age cohort is facing unemployment, increased student loan repayment and slower real-wage growth. Chipotle is especially exposed to this age group as its customers skew younger, Boatwright says. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

October 29, 2025 18:24 ET (22:24 GMT)

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Third-quarter performance fell short of expectations, as low- and middle-income guests reduced the frequency of their visits. Boatwright says households earning below $100,000 represent about 40% of Chipotle's sales. Customers aged 25 to 35 are also especially challenged. Boatwright says that trend is occurring across all restaurants, as that age cohort is facing unemployment, increased student loan repayment and slower real-wage growth. Chipotle is especially exposed to this age group as its customers skew younger, Boatwright says. (katherine.hamilton@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 29, 2025 18:24 ET (22:24 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chipotle Says Younger, Lower-Income Customers Are Squeezed -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChipotle Says Younger, Lower-Income Customers Are Squeezed -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-10-30 06:24</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  1821 ET [Dow Jones]--Chipotle Mexican Grill is experiencing particular weakness among middle-income and younger diners, Chief Executive Scott Boatwright tells analysts. Third-quarter performance fell short of expectations, as low- and middle-income guests reduced the frequency of their visits. Boatwright says households earning below $100,000 represent about 40% of Chipotle's sales. Customers aged 25 to 35 are also especially challenged. Boatwright says that trend is occurring across all restaurants, as that age cohort is facing unemployment, increased student loan repayment and slower real-wage growth. Chipotle is especially exposed to this age group as its customers skew younger, Boatwright says. (katherine.hamilton@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 29, 2025 18:24 ET (22:24 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2065169927.USD","symbol_name":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2579309551","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2579309551","pubTimestamp":1761776640,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1821 ET [Dow Jones]--Chipotle Mexican Grill is experiencing particular weakness among middle-income and younger diners, Chief Executive Scott Boatwright tells analysts. Third-quarter performance fell short of expectations, as low- and middle-income guests reduced the frequency of their visits. Boatwright says households earning below $100,000 represent about 40% of Chipotle's sales. Customers aged 25 to 35 are also especially challenged. Boatwright says that trend is occurring across all restaurants, as that age cohort is facing unemployment, increased student loan repayment and slower real-wage growth. Chipotle is especially exposed to this age group as its customers skew younger, Boatwright says. 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Third-quarter performance fell short of expectations, as low- and middle-income guests reduced the frequency of their visits. Boatwright says households earning below $100,000 represent about 40% of Chipotle's sales. Customers aged 25 to 35 are also especially challenged. Boatwright says that trend is occurring across all restaurants, as that age cohort is facing unemployment, increased student loan repayment and slower real-wage growth. Chipotle is especially exposed to this age group as its customers skew younger, Boatwright says. (katherine.hamilton@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 29, 2025 18:24 ET (22:24 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}