‘Both Chipotle and McDonald’s are well-positioned to continue their winning streak,’ according to Placer.ai
McDonald’s Corp. and Chipotle Mexican Grill Inc. are outperforming the broader dining sector, according to foot-traffic data from analytics company Placer.ai, despite concerns about consumer spending.
Earlier this month, McDonald’s stock MCD, -1.12% suffered its longest weekly losing streak in four years amid consumer-spending worries. McDonald’s shares have fallen 13.2% in the last three months, outpacing the S&P 500’s SPX decline of 6.9%. While the fast-food giant has seen visits fall in recent months, it is still performing better than the sector, Placer.ai data show. In September, for example, visits to McDonald’s were down 3.7%, but visits were down 4.2% for dining overall.
Visits to Chipotle CMG, -0.55% were up 4.7% year over year in September, although Placer.ai notes that this is significantly lower than the double-digit monthly visit increases seen earlier in the year. “Consumers’ tightening budgets — as well as comparisons to a particularly strong 2022 — may be limiting Chipotle’s growth potential,” Arnold wrote.
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