Chipotle Mexican Grill Inc.’s sales rose less than expected, highlighting the high bar the company set by defying an industrywide traffic slowdown in recent years.

Chipotle reduced its financial outlook for same-store sales this year to an increase in the low to mid-single digits.

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