In this articleSGFollow your favorite stocksCREATE FREE ACCOUNTPeople dine outside a Sweetgreen in Manhattan.Jeenah Moon | The Washington Post | Getty ImagesSweetgreen shares surged 35% on Friday after the company topped Wall Street’s revenue expectations for the first quarter.The salad chain reported $158 million in revenue, beating the LSEG consensus estimate of $152 million. It is an increase of 26% from the prior-year period when it reported revenue of $125.1 million.Sweetgreen also raised revenue and adjusted EBITDA guidance for the full year. Shares of the company are up 189% so far in 2024.Jonathan Neman, Sweetgreen CEO and co-founder, said on an earnings call with analysts that the company opened six new restaurants in the first quarter. Neman highlighted the success of the South Lake Union location in Seattle, which “had one of the strongest opening weeks in the company’s recent history.””Openings like these demonstrate that our brand has significantly greater reach than our current physical footprint and that there is massive white space for our category-defining concept,” he said.Neman added that the company remains “on track” to open about seven new automated Infinite Kitchen restaurants this year and plans to establish more next year. Analysts were “impressed” by the early results from the Infinite Kitchen locations, according to StreetAccount.The company announced Tuesday it’s adding steak to its menu, expanding its protein offerings with a caramelized garlic steak protein plate, a steakhouse chopped warm bowl, and a kale Caesar steak salad.”During our testing phase in Boston, we saw Caramelized Garlic Steak quickly become a dinnertime favorite, with steak making up nearly 1 in 5 dinner orders,” said Nicolas Jammet, Sweetgreen’s chief concept officer and co-founder, in a press release. “We’re thrilled to bring customers more of what they are craving at every part of the day.”Don’t miss these exclusives from CNBC PROMost of Warren Buffett’s stock portfolio is tied up in just 5 stocks. Here’s what they are Bank of America says this shoe stock is an inflation winner and you should buy it before earnings These are Morgan Stanley’s top picks into quarterly earningsTesla price cuts could backfire, fund manager says, warning of a ‘huge demand problem’ on the horizonGundlach sees one rate cut this year as Fed keeps up inflation fight …
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[mwai_chat context=”Let’s have a discussion about this article:nnIn this articleSGFollow your favorite stocksCREATE FREE ACCOUNTPeople dine outside a Sweetgreen in Manhattan.Jeenah Moon | The Washington Post | Getty ImagesSweetgreen shares surged 35% on Friday after the company topped Wall Street’s revenue expectations for the first quarter.The salad chain reported $158 million in revenue, beating the LSEG consensus estimate of $152 million. It is an increase of 26% from the prior-year period when it reported revenue of $125.1 million.Sweetgreen also raised revenue and adjusted EBITDA guidance for the full year. Shares of the company are up 189% so far in 2024.Jonathan Neman, Sweetgreen CEO and co-founder, said on an earnings call with analysts that the company opened six new restaurants in the first quarter. Neman highlighted the success of the South Lake Union location in Seattle, which “had one of the strongest opening weeks in the company’s recent history.””Openings like these demonstrate that our brand has significantly greater reach than our current physical footprint and that there is massive white space for our category-defining concept,” he said.Neman added that the company remains “on track” to open about seven new automated Infinite Kitchen restaurants this year and plans to establish more next year. Analysts were “impressed” by the early results from the Infinite Kitchen locations, according to StreetAccount.The company announced Tuesday it’s adding steak to its menu, expanding its protein offerings with a caramelized garlic steak protein plate, a steakhouse chopped warm bowl, and a kale Caesar steak salad.”During our testing phase in Boston, we saw Caramelized Garlic Steak quickly become a dinnertime favorite, with steak making up nearly 1 in 5 dinner orders,” said Nicolas Jammet, Sweetgreen’s chief concept officer and co-founder, in a press release. “We’re thrilled to bring customers more of what they are craving at every part of the day.”Don’t miss these exclusives from CNBC PROMost of Warren Buffett’s stock portfolio is tied up in just 5 stocks. Here’s what they are Bank of America says this shoe stock is an inflation winner and you should buy it before earnings These are Morgan Stanley’s top picks into quarterly earningsTesla price cuts could backfire, fund manager says, warning of a ‘huge demand problem’ on the horizonGundlach sees one rate cut this year as Fed keeps up inflation fight …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
