Chipotle ($CMG) is expected to report a quarter of same-store sales declines due to traffic decline and economic pressure on its core customer. Wall Street expects a 2.9% drop in same-store sales for the fourth quarter, with higher menu prices offsetting foot traffic decline.

Chipotle is anticipated to report adjusted earnings per share of $0.24 on revenue of $2.97 billion. In its third quarter earnings, the company cut its sales outlook, expecting same-store sales to decline in the low-single-digit range for the full year, with a 1.8% decline expected in 2025.

CEO Scott Boatwright cited volatility in consumer trends and noted challenges for the 25- to 35-year-old age group due to unemployment, loan repayment, and slower wage growth. Analysts expect Chipotle to focus on macro trends and highlight recent innovations like the return of Chicken al Pastor and a new high-protein menu.

Deutsche Bank analyst Lauren Silberman anticipates a focus on macro trends and innovation in Chipotle’s upcoming earnings report. TD Cowen’s Andrew Charles is eager to hear about the company’s marketing plan following the departure of its chief brand officer. Stephanie Perdue has been named interim marketing chief as Chipotle searches for a new CMO.

Read more at Yahoo Finance: Chipotle expected to report another quarter of sales declines as it navigates tricky consumer backdrop