For the first time since 2020, Chipotle saw a decrease in quarterly same-store sales. CEO Scott Boatwright pointed to cautious consumers and a spending slowdown as the primary culprits for a sales dip and lower-than-expected quarterly revenues. Boatwright has previously said Chipotle would not raise its prices.

Chipotle Mexican Grill on Wednesday tempered its annual comparable sales growth forecast as sticky inflation and economic uncertainty force consumers to dine out less, sending the burrito chain’s shares down 3% after hours.