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The K-shaped economy is claiming corporate victims

By
Breaking View
People carry bags as they leave a Chipotle Mexican Grill restaurant in San Francisco, California
People carry bags as they leave a Chipotle Mexican Grill restaurant in San Francisco, California July 21, 2015. Burrito chain Chipotle Mexican Grill Inc reported lower-than-expected quarterly revenue on Tuesday. REUTERS/Robert Galbraith
TORONTO, Oct 30 (Reuters Breakingviews) - Richer, older Americans are carrying US consumer spending as income growth for the young slows. It’s now showing up in the lunch line, with burrito-slinger Chipotle losing $8 bln in value on weaker sales. The once-ubiquitous meal bowl is an early casualty of a growing problem.

Editing by Jonathan Guilford; Production by Oliver Taslic

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Pranav Kiran

Editorial Assistant, Toronto

Pranav Kiran is an editorial assistant for Reuters Breakingviews, based in Toronto. He joined Breakingviews in January 2022. Prior to Reuters, he covered mergers and acquisitions at Mergermarket, India. Pranav holds a bachelor's degree in IT and a master’s degree in communications.

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