Chipotle’s CEO just shared the reason why sales have been down. Many fast food fans will relate

Chipotle Mexican Grill announced its second-quarter financial results on Wednesday, July 23, and the news isn’t great.

The fast casual restaurant chain failed to reach its quarterly sales estimates and reduced its targeted annual sales growth. Chipotle reported net income of $436.1 million (32 cents per diluted share), a decrease from $455.7 million (33 cents per diluted share) year-over-year (YOY). 

In premarket trading, Chipotle’s stock price (NYSE:CMG) has plummeted over 12% since the market closed Wednesday night.