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Sweetgreen, Inc. (symbol: SG) is a forward-thinking restaurant and lifestyle brand that is redefining the concept of healthy eating at scale. The company is dedicated to providing simple, seasonal, and nutritious food, emphasizing the importance of the choices we make regarding our diet, its origins, and its preparation. Sweetgreen is deeply involved in every aspect of its supply chain, collaborating with trusted partners and farmers to ensure the highest quality of ingredients.
Each Sweetgreen location prepares meals from scratch daily, utilizing whole produce delivered fresh every morning. This commitment to freshness and quality is a hallmark of the brand, which has grown into a family of 1,500 dedicated employees. These individuals are not only passionate about food but also about fostering leadership and living the company's core values.
Sweetgreen's vision extends beyond just serving food; it aims to transform how people perceive and consume food, encouraging a lifestyle that is both health-conscious and environmentally friendly. The company prioritizes organic, regenerative, and locally sourced ingredients, making their menu both plant-forward and earth-friendly.
Recent achievements include expansion into new markets and the development of innovative partnerships with local farmers and producers. Sweetgreen's focus on the community is evident in their practice of meeting farmers before landlords and turning new neighbors into friends. This approach has helped Sweetgreen build strong connections with local neighborhoods, leaving a positive impact wherever they set up shop.
Sweetgreen, Inc. (NYSE: SG) reported a 23% increase in fourth quarter revenue, totaling $118.6 million, up from $96.4 million in the previous year, driven by 46 net new restaurant openings.
Despite the growth, same-store sales declined to 4% compared to 36% last year, affected by transaction decreases and rising costs. The net loss narrowed to $(49.3) million, an improvement from $(66.2) million in 2021. For 2023, the company forecasts revenue between $575 million and $595 million with a restaurant-level profit margin projected between 15% and 17%.
Sweetgreen, Inc. (NYSE: SG) will publish its fourth-quarter and full-year 2022 financial results on February 23, 2023, after market close. The company will host a webcast at 2:00 p.m. PT (5:00 p.m. ET) to discuss these results. Investors can access the live webcast through the company’s investor relations website, where an archived version will be available for one year. Sweetgreen emphasizes its commitment to providing convenient, healthy food from fresh, local ingredients across its 180+ restaurants, using technology to enhance customer experiences and foster community connections.
sweetgreen (NYSE: SG) has launched Green January, a new campaign aimed at promoting healthy eating habits in the new year. Running from
sweetgreen has opened its first restaurant in Tampa on December 13, marking its fifth new market launch in 2022. The restaurant is located in the Heights District and is designed to cater to young professionals and residents. sweetgreen emphasizes fresh, sustainably-sourced ingredients, featuring regional partnerships for produce. In tandem with the grand opening, the restaurant will donate a meal to Feeding Tampa Bay for every meal sold and will host various community events. The location is part of sweetgreen’s mission to provide healthy, accessible meals nationwide.
sweetgreen has announced the departure of Chief Operating Officer Chris Carr, effective March 17, 2023, due to personal reasons. Carr will continue to advise the company during Q1 2023. Stephanie Traut, SVP of Operations, will assume operational oversight from January 1, 2023. CEO Jonathan Neman highlighted Carr's significant contributions during a challenging operational period, especially amid the pandemic. Traut has over 20 years of operational experience, previously serving at Vasa Fitness and Starbucks, and is expected to enhance the company's operational performance.
Rubicon Technologies, Inc. (NYSE: RBT) has announced a three-year extension with Sweetgreen, Inc. (NYSE: SG) as its lead partner for waste and recycling services. This partnership, which began in 2016, aims to enhance waste diversion and sustainability initiatives. Rubicon will continue managing Sweetgreen's waste programs, focusing on composting, food scraps recycling, and providing sustainability data through its RUBICONConnect™ platform. The collaboration underscores both companies' commitment to sustainability and reducing landfill waste.
Sweetgreen (NYSE: SG) will participate in the Morgan Stanley Global Consumer & Retail Conference on December 7, 2022, at 1:00 p.m. Eastern Time, held at the InterContinental New York Barclay. A live webcast of the event will be available on their investor relations page.
Sweetgreen is known for providing healthy, plant-forward meals, focusing on organic and local ingredients. The brand operates over 180 restaurants and aims to connect people to real food, enhancing customer experiences through technology.
sweetgreen has launched its first advanced order pickup window, “sweetlane”, in
Sweetgreen, Inc. (NYSE: SG) reported a 29% increase in total revenue to $124 million for Q3 2022, driven by new restaurant openings and menu price increases. However, the company faced a net loss of ($47.4 million), widening from ($30.1 million) in the prior year, attributed to rising expenses including $14.6 million in stock-based compensation. Adjusted EBITDA improved to ($6.8 million), a reduction from ($14.1 million) year-over-year. With plans for at least 35 new restaurant openings in 2022, Sweetgreen remains focused on long-term growth despite challenges.
sweetgreen has launched a new dessert category, debuting with the Crispy Rice Treat, made from gluten-free grains, honey date caramel, and roasted sunflower seeds. This innovative product aims to address the market demand for healthy desserts, with nearly 45% of diners ordering dessert when eating out. The launch, conceptualized with Chef Malcolm Livingston II, includes promotions like 'Free Dessert Friday' on November 11 and an online offer from November 28 to December 4. The treat is priced at $2.95 and available via the sweetgreen app and restaurants nationwide.
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