Friday, July 20, 2012

Cheaper Tacos?


 Chipotle Mexican Grill Inc. -CMG- said its customer traffic growth has slowed recently, raising the possibility that some people are trading down to less pricey fast-food restaurants as a result of the uncertain economy. Shares of Chipotle tumbled 17% to $334.98 premarket as chain's second-quarter revenue growth and sales at established restaurants fell below Wall Street analysts' expectations. The report also stoked concerns for fellow casual restaurant operator Panera Bread Co. -PNRA-, which slumped 4.5% to $144.00 premarket.

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