Potbelly Corpora Stock Price, News & Analysis

Potbelly Corporation (NASDAQ: PBPB) has announced a significant expansion in New York City, finalizing a multi-unit development agreement for 13 new locations and refranchising 8 existing shops. This initiative is a part of their overall Franchise Growth Acceleration Initiative, which aims to reach 2,000 units in the next decade, with 85% being franchised. The refranchising deal with United One Group marks a milestone, showcasing confidence in the New York market. The initiative emphasizes flexibility in operations and a diverse menu to attract franchisees.

Potbelly Corporation (NASDAQ: PBPB) reported robust financial results for the fourth quarter and full year ended December 25, 2022. The quarter saw a 17% revenue increase to $120.2 million, with same-store sales growth of 18.9%. Full-year revenues reached $452.0 million, an increase of 19%, with net income of $4.3 million. The Company anticipates continued growth in 2023, projecting same-store sales between 18.5% and 20.5% and adjusted EBITDA of $4-5 million for Q1. Potbelly's success is attributed to enhanced digital marketing, operational efficiencies, and plans to open 51 new franchise shops.

Potbelly Corporation (NASDAQ: PBPB) announced the release date for its fourth quarter and full-year 2022 financial results. The reports will be available on March 2, 2023, after market close. A conference call will be held at 5:00 p.m. Eastern Time on the same day to discuss the financial results, hosted by CEO Bob Wright and CFO Steve Cirulis.

The call can be accessed via dial-in or through a webcast. An audio replay will be available until midnight March 9, 2023. Potbelly has over 400 company-owned locations and 40 franchise-operated shops across the U.S.

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.