(Reuters) -Chipotle Mexican Grill ( CMG ) reported a smaller-than-expected rise in fourth-quarter comparable sales on Tuesday, as higher menu prices deter budget-conscious consumers from opting for its rice bowls and burritos.

The company's shares were down 3% in extended trade after it also forecast dull annual comparable sales growth.

This is the first quarter with Scott Boatwright at the helm of the company. Boatwright officially became CEO in November but had been operating as interim CEO since mid-August, when Starbucks poached Niccol with one of corporate America's most lucrative contracts.

This is the first quarter with Scott Boatwright at the helm of the company. Boatwright officially became CEO in November but had been operating as interim CEO since mid-August, when Starbucks poached Niccol with one of corporate America's most lucrative contracts.

Chipotle took a 2% price hike late last year as the company works to offset an impact from higher costs of commodities such as avocado and beef. 

President Donald Trump's proposed tariffs on Mexico - paused for a month on Monday - could push up prices of avocado further, with the country accounting for about 33% of global production of the fruit as its largest producer, according to data from World Population Review.

Chipotle goes through more than 5 million cases of avocados a year, the chain said in September. 

Consumers in the United States have been wary of pricey menus, a factor that has dented demand for chains such as McDonald's and led to a quarterly sales miss for Chipotle in October. 

The company's fourth-quarter comparable sales grew 5.4%, below estimates of a 5.6% growth, as per data compiled by LSEG.

The company expects full-year 2025 comparable restaurant sales to grow in the low to mid-single digit range, compared with estimates of 5.2% growth, as per data compiled by LSEG.

Operating margin in the reported quarter was 14.6%, compared with 16.9% in the preceding quarter.