Chipotle Mexican Grill reported that cyclosporiasis fears impacted sales in late July, according to the company’s latest earnings report. The restaurant chain raised its same-store sales forecast despite the outbreak’s effect on customer behavior during the month. Chipotle’s stock has declined more than 7% this year, with the company’s market value currently around $44 billion.
The cyclosporiasis outbreak has grown to more than 18,200 suspected cases across the United States, making it the largest outbreak on record. Michigan has been particularly hard hit, with over 10,000 cases reported in the state alone. The outbreak has raised concerns about food safety and consumer confidence in dining establishments.
The situation reflects the tension between the broader outbreak’s expansion nationwide and Chipotle’s ability to maintain positive business momentum. While the company acknowledges the late July impact on sales, its raised forecast suggests management expects recovery as the outbreak situation develops.
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