Welcome to our dedicated page for Sweetgreen news (Ticker: SG), a resource for investors and traders seeking the latest updates and insights on Sweetgreen stock.
Sweetgreen, Inc. reports news about its restaurant business, seasonal menu development, and operating performance as a public company serving healthy food at scale. Coverage centers on financial results, same-store sales, digital revenue, owned digital channels, SG Rewards activity, restaurant-level profitability, and investor communications.
Company updates also include nationwide menu launches such as wraps, salads, and protein-focused limited-time offerings, along with supply-chain stories tied to local farmers and growers. Leadership appointments, real estate and development roles, restaurant portfolio management, and conference participation are recurring corporate themes for SG.
Sweetgreen has announced the launch of the Chipotle Chicken Burrito Bowl, a new menu item that caters to the growing demand for hearty meal options. Available for a limited time, this bowl contains no leafy greens and focuses on protein with blackened chicken, wild rice, and newly added lime cilantro black beans. To celebrate its release and National Burrito Day on April 6, customers can enjoy a 50% discount for one day. Sweetgreen aims to expand its offerings with additional items like the Hummus Crunch Salad and Spring Asparagus Salad. The early spring menu will be available until June 12.
Sweetgreen (NYSE: SG) announced its participation in the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on March 14, 2023, at 9:10 a.m. Pacific Time. The company will engage in a fireside chat at the Encore at Wynn in Las Vegas. A live webcast of the discussion will be available on the investor relations section of their website.
Sweetgreen, with over 190 restaurants, is dedicated to making healthy food accessible and focuses on organic, regenerative, and local sourcing. Their app enhances customer experience while promoting a strong food ethos and community investment.
Meati Foods expands its retail partnership with Sprouts Farmers Market (NASDAQ: SFM), launching its animal-free protein products across approximately 380 locations in 23 states. Following a successful pilot in Colorado, the rollout includes various Eat Meati cutlets and steaks now available in the frozen section. Scott Tassani, president of Meati Foods, highlights the high demand and nutritional benefits of these products. This partnership signifies Meati's commitment to broader market availability while supporting sustainable food practices, with plans for a national omni-channel footprint by late 2023.
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 January 3 to January 18, customers can participate via the sweetgreen app and website to unlock rewards by ordering menu items. The initiative includes a special prize of a free annual subscription to Melissa Wood Health for select participants. Additionally, customers can receive $7 off their next order after trying the new Melissa Wood Health Bowl three times during the campaign.
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.