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(Reuters) – Chipotle Mexican Grill (NYSE:CMG) missed Wall Street estimates for quarterly sales on Wednesday, signaling that demand for its rice bowls and burritos was losing steam in the face of higher menu prices and waning household budgets.
Comparable sales at the restaurant chain rose 7.4% in the second quarter, compared with analysts’ average estimate for a 7.59% increase, according to Refinitiv IBES data.
