Chipotle stock price crashes as Gen Z and millennials burdened by student debt and unemployment stay away

Chipotle's stock price plummeted after reporting Q3 2025 earnings and a disappointing sales forecast. Despite revenue and EPS meeting expectations, the company projected low-single digit declines in full-year comparable sales, marking the third consecutive forecast cut. CEO Scott Boatwright cited a decrease in customer visit frequency due to declining consumer sentiment and economic concerns, particularly among lower and middle-income groups and younger individuals. Pressures like unemployment, student loan repayments, and slower wage growth are impacting younger diners' spending. Chipotle believes this trend affects the broader restaurant industry, with the company being more sensitive due to a younger customer base. Despite the grim outlook, Chipotle plans to expand its physical store footprint, opening 315 to 345 locations in 2025 and 350 to 370 in 2026, including international partner-operated restaurants. Investors, however, are focused on the negative sales forecast. The CMG share price has declined significantly, reaching lows not seen since 2023. The stock price is now nearly half of what it was at the beginning of the year.