The quarter was a grind, with too much work and many mistakes, but the results were pleasing. x.com 

Chipotle might finally have bottomed after falling about 50% to a more reasonable valuation, though it is still not a classic cheap stock. EPS is forecast to grow 15-20% while the stock trades at 25x 2027 EPS targets. x.com 

Chipotle looks expensive on a levels-only valuation screen: at $31.50 it is 77% above the $17.82 upper end of a $14.00-$17.82 fair range. The accompanying screen uses a 1.37 PEG on 9% growth alongside 23x forward earnings; this is based on reported estimates, not fundamental diligence. x.com 

Chipotle was oversold on the jalapeno scare and is recovering, up 16% in 10 days. It can probably reach $40. x.com 

A Starbucks takeover of Chipotle would be a warning sign: an underperforming company chasing far-from-obvious synergies risks distraction when it needs leadership, product innovation and better merchandising. Chipotle bowls at Starbucks or supply-chain gains look insignificant, and the deal may be CEO Brian Niccol's best chance of keeping his job after two weak years. Per the Financial Times, Starbucks has worked with advisers on a proposal, about $41 billion at Chipotle's current price. x.com  … Show more

Chipotle's comparable sales trend is worrying heading into earnings, and the chart is ugly. It is trying to win back customers by raising prices more slowly than inflation. Any sign of a real comeback in traffic would be a huge win. x.com 

Cava Group's valuation is hard to justify for a restaurant chain at 74x 2028 earnings, a multiple even Chipotle never reached during its hypergrowth phase. That holds even though, as @Brian_Stoffel_ notes, Cava's same-store sales rose about 10%, well ahead of its closest competition, with traffic up about 7%. x.com 

Restaurant chains such as Chipotle, Starbucks, Texas Roadhouse, Domino's and Wingstop are relatively easy to buy and hold for many years because they face no major tech disruption. Competition has always been strong, but growing by opening more physical locations is a clear and simple way to compound. Their shares are directly linked to consumer sentiment, which makes that chart worth following. x.com 

Chipotle's same-store sales are falling as even more affluent Americans can no longer afford to eat out. That makes it look like the next Wendy's. x.com 

Starbucks' turnaround is underway now that Brian Niccol has firmed the foundation and has room to grow the business. It had to shrink to grow, fixing too many stores, too many concepts, no in-store vibe and broken processes. This will not be a Chipotle-level outcome, but with Niccol at the helm it can be a consistent compounder. x.com