Chipotle may have given the store away with all those free burritos. Credit Suisse on Monday lowered its forecasts for Chipotle, citing the fast-casual chain's heavy marketing campaigns in the decision
The mobile and mailed-coupon "efforts have likely helped traffic in recent weeks, but at the expense of 'real' sales," analysts said in a research note.
Credit Suisse now expects Chipotle's same-store sales in the first quarter to drop 30 percent, down from a previously anticipated 25 percent fall. Its analysts also lowered the earnings-per-share estimate for Chipotle, expecting a loss of 21 cents per share instead of a gain of 22 cents.
Chipotle did not immediately respond to CNBC's request for comment.