Chipotle’ (CMG)s A “Challenged Company,’ Says Jim Cramer

We recently published 10 Stocks on Jim Cramer’s Radar. Chipotle Mexican Grill, Inc. (NYSE:CMG) is one of the stocks Jim Cramer recently discussed.

Chipotle Mexican Grill, Inc. (NYSE:CMG) reported its third-quarter earnings earlier this week and saw its revenue of $3 billion miss analyst estimates of $3.03 billion. The firm also cut its same-store sales forecast yet again. Naturally, the shares fell by 13% in extended trading, and Cramer discussed whether recent results were an important reflection of the economy:

“I’m not sure because Kevin Hochman, from Brinker, it’s big, Chili’s, did not say that. I didn’t get that, actually, I didn’t get that verbiage from any of the restaurant companies. It’s a challenged company, the comps did decline in low single digits, this is Chipotle, this is Chipotle, and it has, I will say it, lost its way.

“The narrative on Chipotle is that it’s great no matter what. That was the narrative of Starbucks before two different CEOs came in and almost if they sabotaged the darn thing. This was a very bad call, a very bad, and I like the club company very much.”

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Disclosure: None. This article is originally published at Insider Monkey.