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🎙️ Burrito Season

🎙️ Burrito Season

[5 minutes to read] Plus: What's with the tech layoffs?

Shawn O'Malley & Matthew Gutierrez
February 07, 2024

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By Matthew Gutierrez and Shawn O’Malley

🌯 Guac, rice, lettuce, chicken, salsa, cheese. By now, virtually everyone has memorized their ideal Chipotle order.

The $74 billion chain reported a 14% jump in annual sales yesterday (more below), bucking the trend seen at Starbucks and McDonald’s.

The country’s appetite for fast Mexican food has remained strong, and Chipotle plans to open another 285+ stores this year — including one a block from my apartment, just in time for “burrito season” from March through May.

— Matthew

Here’s today’s rundown:

Today, we'll discuss the three biggest stories in markets:

A rundown of Chipotle’s, Uber’s, and Roblox’s earnings
Why are tech companies laying off so many workers?
ESPN, Fox, and Warner team up on sports

All this, and more, in just 5 minutes to read.

POP QUIZ

U.S. federal budget deficits are expected to continue surging over the next decade. How big are they expected to get? (The answer is at the bottom of this newsletter.)

Chart of the Day

More on Chipotle in our earnings rundown below

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