Welcome to our dedicated page for Potbelly Corpora news (Ticker: PBPB), a resource for investors and traders seeking the latest updates and insights on Potbelly Corpora stock.
Potbelly Corporation (NASDAQ: PBPB) operates a growing network of fast-casual restaurants known for toasted sandwiches, salads, and community-focused dining experiences. This page serves as the definitive source for official company announcements, financial updates, and strategic developments.
Investors and industry observers will find curated press releases covering quarterly earnings, franchise expansion milestones, leadership updates, and operational innovations. Our collection emphasizes Potbelly's unique position at the intersection of quality dining and scalable franchising models.
Key updates include financial performance reports, new market entries, menu innovations, and partnership announcements. The archive also tracks the company's progress in maintaining its neighborhood-centric ethos while pursuing strategic growth objectives.
For consistent access to Potbelly's evolving story, bookmark this page or check back regularly. All content is sourced directly from company filings and authorized communications, ensuring reliability for investment research and market analysis.
Potbelly Corporation has announced a new 16-unit shop development agreement in Florida, expanding its reach in the region. This agreement includes 14 shops in Broward County and 2 shops in Gainesville. CEO Bob Wright expressed excitement about partnering with Rami Boaziz of Stellar Hospitality, emphasizing this deal as part of their Franchise Growth Acceleration Initiative. The initiative aims to increase Potbelly's footprint to 2,000 units over the next decade, with a goal of franchising 85% of those units. The franchise model is designed for potential investors with operational experience and a strong entrepreneurial mindset. Potbelly currently operates around 425 shops nationwide, including 53 franchised locations.
Potbelly Corporation (NASDAQ: PBPB) is prioritizing refranchising, targeting conversion of approximately 25% of its corporate locations over three years. The brand recently signed a multi-unit deal in New York City, introducing 13 new shops and refranchising eight locations to United One Group, guided by seasoned executives. Potbelly aims for a 10% annual growth rate leading to 2,000 units in 8-10 years, with 85% of those being franchises. The brand highlights strong unit economics, high average unit volume, and double-digit same-store sales growth. The initiative aims to match new developments with refranchising opportunities to attract multi-unit franchisees, supported by Potbelly's experienced corporate team.
Potbelly Corporation (NASDAQ: PBPB) has announced its schedule for releasing the first quarter 2023 financial results. The report will be published on May 4, 2023, after market close. Following this, the company will host a conference call for investors at 5:00 p.m. Eastern Time on the same date to discuss the results.
The call will be led by Bob Wright, President and CEO, along with Steve Cirulis, CFO. Interested parties can access the call via a webcast link or by dialing the provided numbers. An audio replay will be available until May 11, 2023.
Potbelly Corporation (NASDAQ: PBPB) reported strong first quarter results exceeding expectations, driven by solid customer demand.
For the quarter ending March 27, 2023, average unit volumes ranged between $23,800 and $23,900, with same-store sales growth of 22.0% to 22.3% compared to guidance of 18.5% to 20.5%. Shop-level margins also improved, reaching 11.5% to 12.0% against an expectation of 10.0% to 11.5%.
Adjusted EBITDA is estimated at $5.2 to $5.6 million, surpassing the initial guidance of $4.0 to $5.0 million. The company is focused on its Five-Pillar Strategy and franchise growth initiatives, including a new development deal and refranchising in New York City.
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