Chipotle’s Big Bet on Younger Consumers Is Unraveling

An uncertain U.S. economy is catching up to younger Americans—and Chipotle.

The Mexican-inspired chain has spent years cultivating a younger clientele, pitching its burritos and bowls as nutritious, protein-packed meals for gym bros and healthy eaters. Chipotle Mexican Grill CMG -2.58%decrease; red down pointing triangle sponsors videogame competitions, and some dedicated fans dub themselves “Chipotle Boys.”