Chipotle CEO says chain is making 'meaningful progress' on a major customer concern

Chipotle CEO Scott Boatwright said Wednesday the fast-casual chain is seeing improvement in customers’ perceptions of affordability. Speaking on Chipotle’s second-quarter earnings call, Boatwright said the company’s brand tracking showed improved perceptions of value across "all income groups and age cohorts.""As it relates to value, I'm happy to report our brand tracker showed really solid progress across all income groups and age cohorts on value perception," Boatwright said. "Our affordability scores were better in Q2 than they've been in probably the past couple of years." He noted that customers do not judge value solely by prices or discounts. CHIPOTLE OPENS FIRST RESTAURANT IN MEXICO AS GLOBAL EXPANSION ACCELERATES A person works in a Chipotle outlet in Manhattan, New York City. (Andrew Kelly/Reuters)"And so I think we're making meaningful progress as it relates to value at Chipotle. What we also learned, I think, as an important note, is [that] value isn't just about discounting and price point. It's about convenience. It's about execution," Boatwright added. "It's about menu innovation. There's a host of things that the consumer is looking at to determine value."Chipotle has recently introduced lower-priced menu options.CHIPOTLE CEO ALLEGEDLY SUGGESTS COMPANY WOULD KEEP RAISING PRICES AND 'LEAN INTO' CUSTOMERS MAKING OVER $100K CEO Scott Boatwright said that customers do not judge value solely by prices or discounts. (Chipotle)In December, the company launched a high-protein menu featuring a Single Chicken Taco, starting at $3.50 at select U.S. restaurants, and a High Protein Cup of Adobo Chicken, with a national weighted average price of $3.82, the company said at the time.Chipotle on Wednesday also reported second-quarter revenue of $3.3 billion, up 9.3% from the same period in 2025.Boatwright has previously pushed back against perceptions that Chipotle has become too expensive or reduced its portions to boost profits.Ticker Security Last Change Change % CMG CHIPOTLE MEXICAN GRILL INC. 38.53 +4.29 +12.53% CHIPOTLE RIVAL GUZMAN Y GOMEZ MEXICAN KITCHEN CLOSES ALL US RESTAURANTS Chipotle on Wednesday also reported second-quarter revenue of $3.3 billion, up 9.3% from the same period in 2025. (Angus Mordant/Bloomberg via Getty Images)"We have an affordable price point for all walks of life, and we're for everyone. We want everyone to have access to wholesome, nutritious food," Boatwright said during a May appearance on Yahoo Finance’s "Power Players" podcast.GET FOX BUSINESS ON THE GO BY CLICKING HERE