Chipotle CEO Scott Boatwright says customers aged 25-35 are cutting back on dining out because of financial debt, sluggish wage growth and unemployment.
“This group is facing several headwinds, including unemployment, increased student loan repayment, and slower real wage growth,” Boatwright told investors at the company’s earnings presentation Wednesday.
“We’re not losing them to the competition. We’re losing them to grocery and food at home.”
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