Sweetgreen Inc Stock Price, News & Analysis

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 Schaumburg, IL, on November 15. This innovative concept enables customers to collect online orders via a drive-up window, aiming to enhance convenience for those seeking healthy food choices. The initiative is part of sweetgreen's strategy to expand in suburban markets, addressing the challenge faced by 52% of suburban customers in finding fresh food. The grand opening features a $10,000 sweepstakes and a commitment to donate meals to local food pantries.

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.

Sweetgreen, Inc. (NYSE: SG) will release its third-quarter 2022 financial results after market close on November 8, 2022. A webcast discussing the results will follow at 2:00 p.m. PT (5:00 p.m. ET). The webcast will be accessible via Sweetgreen's investor relations website, where an archived version will be available for one year. Sweetgreen emphasizes a mission-driven approach, focusing on healthy, locally sourced meals across its 175+ restaurants.

sweetgreen has announced the opening of its first restaurants in Indiana and Minnesota on September 13. The new locations in Indianapolis and Edina will feature a menu focused on fresh and sustainably sourced ingredients. sweetgreen aims to connect communities to healthy food options, showcasing the local agricultural roots of both states. The restaurants will also launch pilot menus catering to families and dinner offerings. For every meal sold on the opening day, sweetgreen will donate a meal to local hunger relief organizations.

sweetgreen (NYSE: SG) has announced its participation in the Goldman Sachs 29th Annual Global Retailing Conference on September 7, 2022. The fireside chat will take place at the Conrad Hotel in New York at 1:00 p.m. Eastern Time. A live webcast will be available on the company’s investor relations page.

With over 170 restaurants, sweetgreen focuses on providing healthy, plant-forward meals using organic, local ingredients. The company's commitment to technology enhances customer experience and community engagement.

Sweetgreen, Inc. (NYSE: SG) reported a 45% year-over-year revenue increase to $124.9 million for Q2 2022, with restaurant-level margins rising to 18.5%.

Despite this growth, management noted softness in revenue post-Memorial Day and lowered the 2022 guidance. Same-store sales grew by 16%, yet losses from operations increased to $(42.2) million, and net loss rose to $(40.0) million.

Sweetgreen plans to open at least 35 new restaurants while continuing efforts to reach profitability.