Chipotle Mexican Grill is hoping that Americans’ love for ranch will boost its sales. On June 17, the burrito chain is launching Adobo Ranch, a spicier take on the iconic condiment that has transcended salads to adorn pizza, chicken wings and chips. The menu item is Chipotle’s first new dip since queso blanco, which launched in 2020. The debut comes as Chipotle tries to recover from a rough start to the year. In the first quarter, the company reported its first same-store sales decline since 2020. Executives cited a pullback from consumers who had become more concerned about the economy. The company also lowered the top end of its outlook for full-year same-store sales growth and said traffic wouldn’t grow until the second half of the year. Shares of Chipotle have fallen 12% this year, dragging its market cap down to $71 billion. But Adobo Ranch could help to boost…
