Reports Q4 revenue $118.6M, consensus $124.7M. Reports Q4 same-store sales change of 4%. "We enter 2023 with solid momentum and remain confident in the strength of the sweetgreen brand to endure for years to come," said Co-Founder and CEO Jonathan Neman. "In 2022 we were faced with a challenging economic backdrop and some specific operating challenges. Accordingly, we went back to basics and focused on our Intimacy at Scale playbook, which is showing signs of success. As we begin 2023, customers remain core to everything we do as we focus on disciplined, capital-efficient growth and our path to profitability."
Published first on TheFly
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Read More on SG:
- Sweetgreen’s (NYSE:SG) 2023 Outlook Disappoints; Stock Slides
- Cowen downgrades Sweetgreen on sales, profitability risks
- Sweetgreen downgraded to Market Perform from Outperform at Cowen
- Sweetgreen price target lowered to $13 from $18 at JPMorgan
- Cowen restaurant analyst to hold an analyst/industry conference call
