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Oct 30, 2025 4:00 PM

Chipotle CEO Says Gen Z Is Eating Out Less — But He's Not Lowering Prices

Chipotle Mexican Grill Inc's (NYSE:CMG) cult following may not be recession-proof after all. CEO Scott Bowright admitted during Chipotle’s third quarter earnings call that younger and lower-income consumers are pulling back, but he's drawing a firm line: no discounts.

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"We're losing lower-income and younger consumers to grocery," Bowright said, underscoring that even the most beloved burrito brand isn't immune to tightening wallets. "We're not going to chase short-term traffic with deals. That's not who we are."

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