Chipotle (CMG) is not just for the $100,000 club, its CEO insists.

Addressing what he described as “misinformation” surrounding the brand’s recent pricing coverage, CEO Scott Boatwright clarified to Yahoo Finance that “60% of our consumers’ average household income is over $100,000 a year, and they’re still spending in this tough economy.”

He added that the company plans to “lean into those consumers with brand innovation, menu innovation, and really give them more compelling reasons to come in.”

The admission comes at a sensitive time for the fast-casual giant. During its recent earnings call, Boatwright said the 60% customers making $100,000 statistic “gives us confidence that we can lean into that group in a more meaningful way.” The comment sparked online debate that the burrito giant is no longer for everyday people.

While Chipotle’s stock has clawed back some ground in early February, it spent much of late 2025 in a tailspin. Over the past year, shares have slipped roughly 31%.

Investors are currently staring down a 2026 outlook that predicts “flat” comparable sales growth, a sobering reality for a company that was once the darling of Wall Street portfolios.

As annual restaurant inflation hovers around 4.1%, Chipotle has found itself in a defensive crouch with cash-strapped consumers. Still, Boatwright insisted the brand caters to “all lifestyles,” pointing to a high-protein menu entry point of $3.50 and sides of protein for $3.80.

Management claims they are underpricing inflation by only raising prices by 1% to 2% this year, while beef prices have hit an all-time peak of $6.69 per pound in December 2025, according to US Bureau of Labor Statistics data. Though the chain is effectively eating the margin hit to keep traffic from falling further, the online uproar suggests a growing rift between the brand’s premium ambitions and its humble roots.

This isn’t the first time the company has faced a vibe shift. In 2024, Chipotle was forced to address viral accusations of “skimping” on portions. Now, to bridge the widening gap between its premium pricing and its core identity, the company is pivoting toward a strategy usually reserved for dive bars and casual dining peers like Applebee’s (DIN): happy hour.

Dubbed “Happier Hour,” the test program targets the mid-day slump with lower-priced bundles. While not yet finalized, Boatwright suggested a $10 or less deal that includes “maybe a couple of tacos and a beverage … we’ll see how it performs and [if] we feel like it’s a compelling offer and it creates value for our consumer, it’s something we will certainly lean into.”