Chipotle Mexican Grill (CMG) reported earnings on 19 July 2012

Chipotle Mexican Grill (CMG, $312.31, -$91.55, -22.67%) reported second-quarter results below expectations and said its customer traffic growth has slowed recently, raising the possibility that some people are trading down to less pricey fast-food restaurants and stoking concerns for fellow fast-casual restaurant operators like Panera Bread Co. (PNRA, $142.41, -$8.28, -5.49%).

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