Potbelly Corpora - PBPB STOCK NEWS

Potbelly Corporation (NASDAQ: PBPB) has announced that it will release its first quarter 2021 financial results on May 6, 2021, after market close. A conference call for investors will take place at 5:00 p.m. Eastern Time the same day, hosted by CEO Bob Wright and CFO Steve Cirulis. Investors can join via dial-in or webcast, with a replay available for later access. Potbelly has over 400 company-owned shops across the U.S. and has been serving customers for more than 40 years, emphasizing fresh and friendly service.

Potbelly Corporation (NASDAQ: PBPB) has appointed Scott Swayne as the new Chief People Officer, effective April 26, 2021. With over 25 years of HR experience, Swayne will lead the company’s Human Resources and People Team, focusing on talent acquisition and enhancing Potbelly's culture. CEO Bob Wright expressed confidence in Swayne’s ability to drive growth under the company’s 'Traffic-Driven' Profitability Strategic Plan. Swayne previously held senior HR roles at McCormick & Company and General Mills, bringing valuable experience in employee engagement and diversity.

Potbelly Corporation (NASDAQ: PBPB) reported a fourth quarter with improved same-store sales (SSS) declining by 19.7%, marking a 130 basis point improvement from the prior quarter. Total revenues increased 3% sequentially to $74.9 million. The company achieved a restructuring plan, reducing expenses by $3.5 million annually and renegotiating 321 leases. Despite a GAAP net loss of $16.4 million, Potbelly aims for profitability and positive cash flow in the second half of 2021, driven by its new 'Traffic-Driven Profitability' strategy and improved digital sales, accounting for 35.8% of total sales.

Potbelly Corporation (NASDAQ: PBPB) has announced the release date for its fiscal fourth quarter and full year 2020 financial results, which is set for March 11, 2021, after market close. The company will hold a conference call with investors at 5:00 p.m. ET on the same day, hosted by President and CEO Bob Wright, and CFO Steve Cirulis. The event will also be available via webcast. Potbelly operates over 400 company-owned sandwich shops in the U.S. and has a strong neighborhood presence, promising quality service and food.

Potbelly Corporation has entered into a securities purchase agreement to raise approximately $16 million through a private placement of common stock and warrants. The offering includes 3,249,688 shares at an offering price of $4.91 per share. Additionally, Potbelly has reached an agreement to amend its credit facility with JP Morgan, securing $25 million until January 31, 2023. The funds from this initiative aim to enhance the company’s balance sheet and support a focus on traffic-driven profitability amid a recovering dining environment.

Potbelly Corporation (NASDAQ: PBPB) has appointed Adiya Dixon as Chief Legal Officer and Secretary, effective November 16, 2020. In her new role, Dixon will provide legal advice to the executive team and manage various legal matters including corporate compliance and transactions. Bob Wright, CEO, expressed enthusiasm for Dixon's broad business experience as Potbelly aims for growth post-pandemic. Dixon previously held leadership positions at The Wendy’s Company and has a strong legal background. She succeeds Matthew Revord, who recently left the company.

Potbelly Corporation (NASDAQ: PBPB) reported Q3 2020 results, showcasing a positive shift in performance. Same-store sales improved by over 2,000 basis points, ending at (21.0%), with further gains into October at (19.4%). The company achieved shop-level profitability and maintained cash burn at $0.5 million weekly. Potbelly renegotiated 280 leases and is optimizing G&A expenses, aiming for $3.5-$4.0 million in savings. Total revenues rose to $72.7 million, a substantial increase from the prior quarter, although net loss was $13.4 million or ($0.56) per share.

Potbelly Corporation (NASDAQ: PBPB) will announce its unaudited financial results for the third fiscal quarter of 2020 on November 5, 2020, after market close. A conference call and webcast for investors will take place at 5:00 p.m. ET on the same day, featuring President and CEO Bob Wright and CFO Steve Cirulis. The call can be accessed via phone or through Potbelly's Investor Relations webpage. An audio replay will be available from 8:00 p.m. ET on November 5 until midnight on November 12, 2020.

Potbelly Corporation (NASDAQ: PBPB) appointed Adam Noyes as Chief Operations Officer effective August 28, 2020, succeeding the previous Chief Restaurant Operations Officer. Noyes aims to enhance staffing, training, and customer experiences while focusing on top-line growth, shop margins, and franchise operations. With over 30 years in the restaurant industry, he previously led significant operational improvements at Checkers and Rally’s Restaurants. As part of his inducement to join, he received 79,075 shares of common stock, vesting over three years.