Chipotle says more price increases on the way

Chipotle said it would raise prices again in August after reporting disappointing sales in the second quarter. Earnings per share were $9.30, better than the $9.04 expected by Wall Street. “The low-income consumer definitely has pulled back their purchase frequency,” CEO Brian Niccol said. “Fortunately for Chipotle, you know, the majority of our customers are a higher household income consumer.”