Chipotle same-store sales turn negative for first time since 2020
It was a tough first quarter for the fast-casual chain, which was blamed on slower consumer spending. CEO Scott Boatwright said Chipotle is doing everything right and sales will trend positive in the second half of the year.
Consumer confidence takes a nosedive as inflation and job concerns worry diners
A recent University of Michigan survey revealed a dramatic drop in consumer confidence, driven by fears of rising inflation and unemployment. As diners pull back on spending, restaurants face ongoing challenges in a deteriorating economic landscape.