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Portillo's Inc. Class A Common Stock (symbol: PTLO) is a renowned name in the fast-casual restaurant industry, celebrated for its Chicago-style menu offerings. Established in 1963 by Dick Portillo in Villa Park, Illinois, the company has grown from a single hot dog stand named 'The Dog House' into a nationally recognized chain.
Portillo’s restaurants are known for their high-energy ambiance and nostalgic theme, serving fresh, homemade food. The core menu includes classic Chicago-style hot dogs, Italian beef sandwiches, char-grilled burgers, and fresh salads. Their delicious desserts, like the famous chocolate cake and chocolate cake shake, have also garnered a loyal following.
As of recent developments, Portillo’s operates over 80 restaurants across ten states, with significant expansions in markets such as Arizona, Florida, and Texas. In 2023, the company achieved remarkable financial milestones, including a 15.8% revenue growth, driven by same-restaurant sales growth and the opening of 12 new locations. The company's strategic focus on operational excellence and impeccable service has resulted in a record operating cash flow and increased guest satisfaction.
Portillo's also operates two food production commissaries in Illinois, ensuring consistent quality and supply across their outlets. Their multi-channel approach, including dine-in, drive-thru, takeout, online ordering, and catering services, caters to a broad customer base.
Looking ahead, Portillo’s aims to sustain its growth trajectory, planning to open at least nine new restaurants in 2024 and targeting a long-term annual growth rate of 12-15%. The company's focus remains on enhancing guest experiences, strategic pricing, and maintaining operational efficiencies.
Portillo's commitment to delivering value to shareholders is evident through its disciplined development strategy and continuous efforts in operational excellence. For more information and the latest updates, visit their website.
Cartwheel, a delivery management platform, has raised $3 million in seed funding led by Moonshots Capital. This capital will enhance product development, partner integrations, and company expansion. Over the past year, Cartwheel has tripled its customer base, now serving over 8,000 establishments, including top brands like Portillo's and P.F. Chang's. The platform offers a Hybrid Delivery model allowing businesses to manage in-house and outsourced deliveries efficiently. Cartwheel's solutions are designed to optimize delivery management, making it a leader in its field.
Portillo’s Inc. (Nasdaq: PTLO) will release its first quarter 2022 financial results on May 5, 2022, before market opening. A conference call with CEO Michael Osanloo and CFO Michelle Hook will take place at 10:00 AM ET the same day. Interested listeners can participate via phone or through a webcast available on the company’s investor relations site. Founded in 1963, Portillo’s boasts over 70 locations across nine states, famous for Chicago-style food offerings and expanding its catering service, Portillo’s Home Kitchen.
Portillo's Inc. (PTLO) reported fourth quarter and fiscal year 2021 results, highlighting total revenue growth of 17.2% to $138.9 million and 17.5% to $535.0 million, respectively. Same-restaurant sales rose by 10.3% and 10.5%. However, operating income fell to a loss of $22.5 million in Q4 and $30.0 million for the year. Net losses were reported at $33.8 million for Q4 and $13.4 million for the year. The company opened two restaurants in Q4 2021, bringing the total to 69. Anticipated future challenges include commodity cost increases and staffing shortages. Portillo's plans to open seven new locations in 2022.
Portillo’s Inc. (Nasdaq: PTLO) will report its fourth quarter and full year 2021 financial results on March 10, 2022, before market opens. A conference call will be hosted by CEO Michael Osanloo and CFO Michelle Hook at 10:00 AM ET, with a replay available post-call. Portillo’s, founded in 1963, operates 70 locations across nine states, known for its Chicago-style menu and catering services. The webcast will be archived on their website.
Portillo’s (Nasdaq: PTLO) announced its participation in two investor conferences this January. The first event is the 2022 Virtual ICR Conference on January 10, starting at 10:00 AM ET, which will be webcast live on the company's website. The second event is the Jefferies Annual Winter Summit, scheduled for January 24-25, 2022. Founded in 1963 by Dick Portillo, the fast-casual chain is renowned for its Chicago-style hot dogs and Italian beef sandwiches, with 69 locations across nine states.
Portillo's (NASDAQ: PTLO) has announced the appointment of Paulette Dodson as a new Board member, effective immediately. Dodson, currently General Counsel at Alight Solutions, brings over 30 years of legal experience with a strong background in corporate governance, mergers, and acquisitions. Portillo's Chairman, Mike Miles, expressed enthusiasm for her strategic insight and passion for the brand. Dodson aims to support Portillo's growth, which has expanded to nearly 70 locations across nine states since its founding in 1963 with a single hot dog stand.
Portillo’s Inc. (NASDAQ: PTLO) reported a 15.3% increase in total revenue for Q3 2021, reaching $138.0 million. However, operating income fell 8.8% to $17.2 million, and net income decreased 19.4% to $6.5 million. Adjusted EBITDA also declined by 8.4% to $24.2 million. The growth in revenue was driven by a 6.8% rise in same-restaurant sales, attributed to higher average checks. The company opened four new restaurants this year, with one more expected soon.
Portillo’s Inc. (Nasdaq: PTLO) announced it will release its third quarter 2021 financial results on November 18, 2021, before market opening. A conference call and webcast will follow at 10:00 AM ET, hosted by CEO Michael Osanloo and CFO Michelle Hook. Interested parties can participate via telephone or access the archived webcast on the company’s website. Portillo's operates 67 locations across nine states, serving Chicago-style favorites like hot dogs and Italian beef sandwiches.
Portillo’s is enhancing holiday celebrations with new meal options, including Holiday Take and Make packages and Shop N Ship offerings. The Holiday Take and Make features catering packages like Italian Beef and Chopped Salad, designed for easy preparation at home. Meanwhile, Shop N Ship allows customers to order iconic Chicago-style food nationwide, making it ideal for gatherings. Starting November 2, 2021, purchasing $50 in gift cards comes with a $10 promo card for future use. Visit portillos.com for more information.
Portillo’s Inc. (Nasdaq: PTLO) has successfully closed its initial public offering, selling 23,310,810 shares at $20 each, generating approximately $466 million in gross proceeds. This includes the full exercise of underwriters' options to acquire an additional 3,050,540 shares. The stock commenced trading on the Nasdaq Global Select Market on October 21, 2021. The offering was managed by major financial firms including Jefferies and Morgan Stanley, with copies of the final prospectus available through SEC's website and respective banks.
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