Chipotle CEO warns ‘the consumer is sitting on the sideline,’ leading to the chain’s first same-store sales decline since 2020

A man with a brown paper bag walks out of a Chipotle store. (Credit: Spencer Platt/Getty Images)

• For the first time since 2020, Chipotle saw a decrease in quarterly same-store sales. CEO Scott Boatwright pointed to cautious consumers and a spending slowdown as the primary culprits for a sales dip and lower-than-expected quarterly revenues. Boatwright has previously said Chipotle would not raise its prices.

Chipotle is beginning to notice the impact of consumers spooked by volatile economic conditions.