Chipotle Mexican Grill Inc. reported its first-quarter earnings with revenue of $2.88 billion, missing Wall Street's expectations of $2.95 billion. The company's earnings per share were $0.28, in line with consensus estimates, while adjusted earnings per share were $0.29, slightly above the expected $0.28. Despite these figures, Chipotle saw a 0.4% decline in same-store sales, the first since 2020, due to a slowdown in consumer spending and adverse weather conditions. CEO Scott Boatwright indicated that the spending slowdown was a broad macroeconomic issue, not specific to any cohort or geography. During the quarter, Chipotle opened 57 new restaurants, bringing its total to 3,781 locations. The company has set a long-term goal of reaching 7,000 restaurants in the US and Canada. However, Chipotle revised its full-year outlook to expect same-store sales growth in the low single digits, reflecting ongoing economic uncertainty. Following the earnings release, Chipotle's shares fell over 5% in after-hours trading, reflecting investor concerns about the revenue shortfall and cautious future outlook. The company currently has 27 Buy ratings, 9 Hold ratings, and no Sell ratings from analysts. Chipotle's shares are down 21.6% from their 52-week high of $69.26 and have decreased 18% year-to-date, compared to a 7% drop in the S&P 500. To address these challenges, Chipotle plans to increase its digital ad and marketing spend, introduce new menu items, and focus on unit growth, with no immediate plans to raise prices.