Chipotle Mexican Grill introduces Adobo Ranch, a new dip priced at 75 cents, on June 17. This marks their first new dip since the 2020 launch of queso blanco. The company aims to recover from a challenging start to the year, having reported its first same-store sales decline since 2020 in the first quarter. Executives noted a consumer pullback due to economic concerns. Chipotle revised its full-year same-store sales growth outlook downward and anticipates no traffic growth until the second half of the year. The company’s shares have dropped 12% this year, reducing its market cap to $71 billion. Adobo Ranch, made with adobo peppers, sour cream, and herbs and spices, enters a market where ranch has surpassed ketchup in popularity, though mayo remains the top condiment according to NIQ retail sales data.
Skyline Chili
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