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 Corporation (NASDAQ: PBPB) has secured a new $25 million senior secured term loan that matures on February 7, 2028, replacing its previous short-term revolving credit facility. This financial move, led by Sagard, enhances the company's financial flexibility as it aims to execute its Five-Pillar Strategy. A portion of the loan will retire existing debt with J.P. Morgan while the rest will support working capital and general corporate needs. The facility allows for an additional $5 million revolving credit with third-party lenders, marking a positive step in Potbelly's growth trajectory amidst challenging market conditions.
Potbelly (NASDAQ: PBPB) is celebrating its 46th birthday with a special BOGO sandwich promotion on January 13, 2023. Customers can buy one Original-sized sandwich and receive another free by using the promo code BOGO online or through the Potbelly app. This offer is valid for one day only and does not require membership in the Potbelly Perks loyalty program. The promotion aims to engage both loyal customers and new fans, as the brand continues its tradition of offering warm, toasty sandwiches in over 400 locations nationwide.
Potbelly Corporation (NASDAQ: PBPB) recently announced strong preliminary results for Q4 and the full year 2022, exceeding revenue and margin guidance. For Q4, revenues reached $119M-$120M against a guidance of $114M-$119M, with shop-level margins at 13.4%-13.9%. Same-store sales increased by 18.5%-19.0%. For the full year, average unit volumes (AUVs) also surpassed expectations, ranging from $1.16M to $1.17M. The company signed agreements for 51 new shops as part of its Franchise Growth Acceleration Initiative, highlighting a commitment to future growth.
Potbelly Corporation (NASDAQ: PBPB) announced participation in ICR’s 25th Annual Consumer Conference on January 9, 2023. CEO Bob Wright and CFO Steve Cirulis will present at 12:00 PM ET and engage in one-on-one meetings with investors. The presentation will be accessible live and as a replay on Potbelly's Investor Relations website under the Events and Presentations section.
With over 400 company-owned shops and more than 40 franchise locations nationwide, Potbelly has been serving its signature sandwiches and salads for over 40 years, maintaining a Fresh, Fast & Friendly service ethos.
Potbelly Corporation (NASDAQ: PBPB) is celebrating the holiday season by offering a buy one, get one (BOGO) sandwich deal exclusively for Perks members on December 20, 2022. This promotion allows members to enjoy a free sandwich of equal or lesser value when they purchase any Original-sized sandwich. New customers can also participate by signing up for the Potbelly Perks program by the same date. The initiative aims to enhance customer experience and engagement during the festive season.
Potbelly Corporation (NASDAQ: PBPB) announced franchise agreements with several existing franchisees, aiming to expand with 25 new shops across North Carolina, South Dakota, and Tennessee over the next six years. This follows earlier commitments for 25 additional shops in Florida and Illinois, totaling 50 new locations. The company's successful Franchise Growth Acceleration Initiative is bolstered by double-digit same-store sales growth. CEO Bob Wright's contract extension through 2025 supports Potbelly's goal of reaching 2,000 shops, with a focus on franchising.
Potbelly Corporation (NASDAQ: PBPB) announced that CEO Bob Wright and CFO Steve Cirulis will participate in the Wolfe Research Global Consumer Growth Conference on December 5, 2022, at 2:20 PM ET, engaging in an industry-focused panel discussion. Additionally, they will present an update on the company’s financial and strategic performance at the Sidoti Winter Small-Cap Conference on December 7, 2022, at 11:30 AM ET. Interested parties can listen to these events live through Wolfe representatives or by accessing Potbelly’s Investor Relations website for the Sidoti presentation.
Potbelly Corporation (NASDAQ: PBPB) will participate in the Stephens Annual Investment Conference on November 16, 2022. CEO Bob Wright and CFO Steve Cirulis are scheduled for a fireside chat at 1:00 PM ET, followed by one-on-one investor meetings. Interested parties can access a replay of the chat on the Company's Investor Relations section of its website under 'Events and Presentations.'
Established in 1977, Potbelly has over 400 company-owned locations and 40 franchise shops, offering a menu of sandwiches, salads, and shakes with a commitment to Fresh, Fast & Friendly service.
Potbelly Corporation (NASDAQ: PBPB) reported robust financial results for Q3 2022, with same-store sales up 15%, leading to record average unit volumes (AUV) of $23,383. The company achieved a net income of $9.0 million and an adjusted EBITDA increase of 75% year-over-year. Revenues rose by 15.7% to $117.6 million, while shop-level margins expanded to 10.6%. Furthermore, Potbelly signed franchise agreements for 25 new shops in Florida and Illinois, indicating growth in franchise development.
Potbelly Corporation (NASDAQ: PBPB) has announced the extension of CEO Robert D. Wright's contract through 2025. Since joining in 2020, Wright has significantly improved operations and led the company back to profitability post-pandemic. He aims to transition Potbelly into a franchise-focused organization, targeting 2,000 units for long-term growth. The Board expressed confidence in his leadership and strategic direction, emphasizing the company's unique position in the fast casual sector.
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