Welcome to our dedicated page for Potbelly Corporation news (Ticker: PBPB), a resource for investors and traders seeking the latest updates and insights on Potbelly Corporation stock.
Potbelly Corporation Common Stock (NASDAQ: PBPB) represents shares of Potbelly Corporation, a beloved sandwich shop chain with deep roots in the United States. Founded in 1977, Potbelly began as a small antique store in Chicago that transformed into a local favorite eating spot, known for its warm, toasty sandwiches. The company has since expanded, boasting over 400 locations across 29 states and Washington D.C., as well as 30 additional franchise shops internationally, including the Middle East and the UK.
Potbelly's core business revolves around its unique dining experience, which combines fresh, tasty food with live local music and friendly service. The menu features a variety of items such as toasty sandwiches, signature salads, soups, chili, and desserts. In select locations, breakfast offerings include breakfast sandwiches and steel-cut oatmeal.
Recent achievements and initiatives highlight Potbelly's commitment to growth and customer satisfaction. The company recently relaunched its loyalty program, Potbelly Perks, which now rewards members faster and offers more flexible reward redemptions. This program is part of Potbelly's broader digital innovation strategy, aiming to enhance customer engagement and boost sales.
Financially, Potbelly has shown resilience and strategic foresight. The company secured a new credit facility that significantly reduces interest rates compared to previous terms, expected to save approximately $2 million annually. This move strengthens Potbelly's financial position, providing the flexibility to pursue growth ambitions under its Five-Pillar Strategy.
Potbelly continues to expand its footprint through strategic franchise agreements. Recent deals are set to add 18 new shops, driven by existing franchisees expanding their commitments. This expansion is part of Potbelly's Franchise Growth Acceleration Initiative, which focuses on increasing average unit volumes and driving same-store sales growth through innovative store designs and a diverse menu.
For investors and stakeholders, Potbelly represents a steady growth opportunity within the fast-casual dining sector. The company's blend of unique dining experiences, strategic financial management, and aggressive expansion plans position it well for future success. Stay updated with the latest developments and financial results by visiting the investor relations section of the Potbelly website.
Potbelly (NASDAQ: PBPB) has announced six new multi-unit development agreements that will add 32 new shops across Arizona, Illinois, Missouri, North Carolina, Texas, and Virginia. The agreements, signed since July, include an expanded partnership with founder Bryant Keil and align with the company's franchise-led growth strategy.
This expansion is part of Potbelly's long-term goal to reach 2,000 shops, with at least 85% being franchised locations. The company recently announced a separate agreement with Royal Restaurant Group to open 15 new shops in the Atlanta area, marking Potbelly's first entry into Georgia.
Potbelly (NASDAQ: PBPB) has announced its expansion into Georgia through a new multi-unit development agreement with Royal Restaurant Group. The agreement includes plans to open 15 Potbelly shops in the greater Atlanta region, with development starting in January 2026 and three shops opening annually thereafter. This follows a previous 40-shop agreement with Royal Restaurant Group from October 2023. The franchise partner currently operates four Potbelly shops and has extensive experience in the restaurant industry. This expansion aligns with Potbelly's long-term goal of reaching 2,000 shops with 85% being franchised locations.
Potbelly (NASDAQ: PBPB) reported mixed Q3 2024 financial results. While total revenues decreased 4.7% to $115.1 million and same-store sales declined 1.8%, profitability metrics showed improvement. GAAP net income rose 150% to $3.7 million, with EPS increasing to $0.12 from $0.05. The company opened eight new shops and secured 32 additional franchise commitments during the quarter. Franchise royalties grew 79.2% driven by a 30% increase in franchised units. For Q4 2024, Potbelly projects same-store sales growth between -2.5% and -0.5% with adjusted EBITDA of $7.0M to $8.0M.
Potbelly (NASDAQ: PBPB) has announced the date for the release of its third quarter 2024 financial results. The company will report its results on Thursday, November 7, 2024 after market close, followed by a conference call for investors at 5:00 p.m. Eastern Time on the same day.
The conference call will be hosted by Potbelly's President and CEO, Bob Wright, and CFO, Steve Cirulis. Investors can dial in using the numbers 833-630-1088 (U.S. & Canada) or 412-317-1817 (International). The call will also be webcast live from the company's corporate website. An audio replay will be available until November 14, 2024.
Potbelly is a neighborhood sandwich concept with over 425 shops in the United States, including more than 80 franchised locations.
Potbelly (NASDAQ: PBPB) reported financial results for Q2 2024. Key highlights include:
- Average Weekly Sales increased 0.6% to $26,110
- Total revenues decreased 5.5% to $119.7 million
- Same-store sales increased 0.4%
- GAAP net income was $34.7 million, with diluted EPS of $1.13
- Adjusted EBITDA increased 5.9% to $8.5 million
The company opened 4 new shops in Q2, bringing the total to 9 year-to-date. Potbelly signed commitments for 22 new shops, totaling 54 in 2024. The company has 663 open and committed shops, a 25% increase from Q2 2023. Potbelly introduced Q3'24 guidance and updated 2024 guidance, projecting same-store sales growth between -1.5% to +0.5% and adjusted EBITDA of $27.0M to $30.0M for the full year.
Potbelly (NASDAQ: PBPB), the iconic neighborhood sandwich shop concept, has announced the date for the release of its second quarter 2024 financial results. The company will report its results on Thursday, August 8, 2024 after market close, followed by a conference call for investors at 5:00 p.m. Eastern Time on the same day.
The call will be hosted by Potbelly's President and CEO, Bob Wright, and CFO, Steve Cirulis. Investors can dial in using the numbers provided or access the webcast live from the company's corporate website. An audio replay will be available until August 15, 2024.
Potbelly operates over 425 shops in the United States, including more than 80 franchised locations, offering warm sandwiches, salads, and shakes for over 40 years.
Potbelly has opened its first location at the Pentagon, expanding its footprint on military installations. This follows the recent launch of its first shop at Fort Liberty, with two more locations under development there. The Pentagon store officially opened on June 28 and will host a grand opening ribbon-cutting ceremony on July 16, with all sales on that day benefiting the Tunnel to Towers' Homeless Veterans program. Potbelly is partnering with the Navy Exchange Service Command and the Army & Air Force Exchange Service to facilitate these openings. The company aims to continue its growth strategy, with a long-term goal of 2,000 shops across the U.S.
Potbelly (NASDAQ: PBPB), a well-known neighborhood sandwich shop, announced that its top executives will participate in upcoming investor conferences. On May 29, 2024, the company will hold one-on-one meetings with investors at the Craig-Hallum 21st Annual Institutional Investor Conference in Minneapolis, MN. Additionally, on June 4, 2024, Potbelly will present at the William Blair 44th Annual Growth Stock Conference in Chicago, IL, with a live webcast available on the company's Investor Relations website. Potbelly operates over 425 shops, including 80+ franchised locations in the U.S.
Potbelly reported financial results for the first fiscal quarter of 2024, showcasing a system-wide sales growth of 1.9%, AWS of $24,250, and 32 new franchise shop commitments. However, there was a decrease in total revenues by 6.0% to $111.2 million, with same-store sales down by 0.2%. The GAAP net loss was $2.8 million, with diluted EPS at ($0.09). Despite these challenges, the company announced a $20 million share repurchase program and provided guidance for the second quarter and 2024.
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