Chipotle stock craters as company says young people without jobs can't afford their food anymore
Chipotle (CMG) on Wednesday cut its full-year sales outlook for the third straight quarter as the company continues to deal with a traffic decline and economic pressure on its core customer, particularly young people. CEO Scott Boatwright said in the company's earnings release that the chain continues to see "persistent macroeconomic pressures." On a call with analysts, the executive expanded on this idea, noting that Chipotle is "over-indexed" to a younger consumer, who he said are particularly under pr ...