Potbelly

Potbelly Corporation Reports Strong Results for Fourth Fiscal Quarter and Full Year 2023

Retrieved on: 
Thursday, March 7, 2024
Pillar, Potbelly Sandwich Shop, Potbelly, EPS, GAAP, AWS

CHICAGO, March 07, 2024 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), (“Potbelly” or the “Company”) the iconic neighborhood sandwich shop concept, today reported financial results for its 14-week fourth fiscal quarter and 53-week full year ended December 31, 2023. The comparable period-year periods in 2022 included 13 and 52 weeks, respectively.

Key Points: 
  • Key highlights for the quarter ended December 31, 2023, compared to December 25, 2022:
    Total revenues increased by 4.7% to $125.7 million compared to $120.2 million.
  • Positive same-store sales for the eleventh-consecutive quarter, ending the fourth quarter at +6.3%, with traffic growth as a major driver and expansion of traffic share during each period of the quarter.
  • GAAP net income attributable to Potbelly Corporation was $2.7 million compared to $2.7 million.
  • Adjusted net income1 attributable to Potbelly Corporation was $0.7 million compared to $2.6 million.

Potbelly Corporation Reports Preliminary Results for Fourth Fiscal Quarter and Full Year 2023

Retrieved on: 
Monday, January 8, 2024
Pillar, Growth, Conference, Potbelly, Potbelly Sandwich Shop, Financial adviser

CHICAGO, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), (“Potbelly” or the “Company”) the iconic neighborhood sandwich shop concept, today reported preliminary results for the fourth fiscal quarter and full year ended December 31, 2023.

Key Points: 
  • For the fourth quarter and full year the benefit was approximately 580bps and 160bps, respectively.
  • Bob Wright, President and Chief Executive Officer of Potbelly Corporation, commented, “Our preliminary fourth quarter results marked continued strong performance as our team executed on our Five-Pillar Strategy.
  • Notably, we continued to grow traffic share within the fast casual industry during each period of the quarter.
  • The Company expects to release final financial and operating results for its fiscal fourth quarter and fiscal year ended December 31, 2023 during March 2024.

Potbelly Announces 22-Shop Agreement in Seattle-Tacoma Region

Retrieved on: 
Wednesday, November 15, 2023
Growth, Senior, Partnership, Potbelly Sandwich Shop, Pleasure, Restaurant, Potbelly

The agreement includes the transfer of ownership of nine existing restaurants.

Key Points: 
  • The agreement includes the transfer of ownership of nine existing restaurants.
  • Additionally, the franchisee will develop 13 new units in King, Pierce, and Thurston counties over the next eight years.
  • “We’re thrilled to put the Potbelly experience within the reach of more people in the Seattle-Tacoma region,” said Bob Wright, President and CEO of Potbelly.
  • “It’s always a pleasure working with proven franchisees that share our excitement and vision for the Potbelly brand,” said Lynette McKee, Senior Vice President of Franchising at Potbelly.

Potbelly Announces 40-Shop Agreement with Royal Restaurant Group

Retrieved on: 
Monday, October 30, 2023
Taste, Potbelly Sandwich Shop, Growth, Restaurant, Burger King, Fast food, Potbelly

CHICAGO, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), the iconic neighborhood sandwich shop, today announced the completion of a 40-unit agreement with Royal Restaurant Group, a national franchise group that successfully operates restaurant locations for global brands.

Key Points: 
  • CHICAGO, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), the iconic neighborhood sandwich shop, today announced the completion of a 40-unit agreement with Royal Restaurant Group, a national franchise group that successfully operates restaurant locations for global brands.
  • The agreement will involve the future development of 36 Potbelly shops in markets across both Ohio and Florida.
  • “We’re delighted to have Royal Restaurant Group join the Potbelly system and further our growth in several key areas of the U.S.,” said Bob Wright, President and CEO of Potbelly.
  • “The Royal Restaurant Group team knows what it takes to successfully develop and operate franchise locations for large-scale restaurant brands, and they share our values of leading with respect and integrity while prioritizing high-quality and great customer service.

Potbelly Turns Up the Heat on Strategic Growth in Florida

Retrieved on: 
Tuesday, August 1, 2023
Stellar, Midland Credit Management, Inc., Food, Potbelly Sandwich Shop, Daniel's, Sunlight, Panama, Growth, STA, Milk, Salad, Colonial Plaza, Fast food, Video game, Potbelly

Potbelly Corporation (NASDAQ: PBPB) announced today that it has nearly 50 locations in various stages of development throughout the state of Florida.

Key Points: 
  • Potbelly Corporation (NASDAQ: PBPB) announced today that it has nearly 50 locations in various stages of development throughout the state of Florida.
  • “Florida as a whole holds immense promise for Potbelly, and we are strategically expanding in the Sunshine State to reach our potential,” said Lynette McKee, senior vice president of franchising at Potbelly.
  • Potbelly is also looking for experienced franchise partners to lead development across the state border in Mobile, Alabama.
  • Potbelly has a long-term goal of reaching 2,000 shops over the next 10 years, with at least 85% of those locations being franchised, as part of the company’s Franchise Growth Acceleration Initiative.

Potbelly Signs Multi-Unit Development Agreement with Company Founder Bryant Keil

Retrieved on: 
Wednesday, July 19, 2023
Partnership, Potbelly Sandwich Shop, Love, City, Environment, Fast food, Potbelly

CHICAGO, July 19, 2023 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), the iconic neighborhood sandwich shop, today announced that it has finalized a 27-shop agreement in Maryland with the company’s founder Bryant Keil and his son Hampden.

Key Points: 
  • CHICAGO, July 19, 2023 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), the iconic neighborhood sandwich shop, today announced that it has finalized a 27-shop agreement in Maryland with the company’s founder Bryant Keil and his son Hampden.
  • The agreement grants Mr. Keil exclusive territory rights in seven Maryland counties – Washington, Frederick, Montgomery, Prince George, Charles, Calvert, and St. Mary’s – to develop 15 new Potbelly shops in the next eight years.
  • Additionally, Potbelly will refranchise 12 existing restaurant locations as part of the transaction.
  • He has a keen understanding of the Potbelly vision and deep appreciation for the brand and what sets us apart,” said Bob Wright, President and CEO of Potbelly.

Potbelly Strengthens Senior Management Team

Retrieved on: 
Monday, June 12, 2023
Metromedia Restaurant Group, Human resources, Restaurant, University, Senior, Potbelly Sandwich Shop, Culture, Checkers, Champaign–Urbana metropolitan area, Vanderbilt University, PepsiCo, Attitude, Human, CFE, Pizza Hut, Acquisition, National Restaurant Association, Growth, Burger King, Character, Education, Management, Psychology, Franchising, Potbelly

CHICAGO, June 12, 2023 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), the iconic neighborhood sandwich shop, today announced two strategic appointments to its corporate leadership team. Industry veteran Lynette McKee, CFE has been named Senior Vice President of Franchising, overseeing all aspects of franchisee recruitment and sales. Patrick Walsh joins Potbelly as Chief People Officer and will oversee and lead the brand’s People team and human resources across the company.         “Franchise-focused development is one of our five strategic pillars to drive long-term profitability and growth,” said Bob Wright, president and CEO of Potbelly. “Lynette’s deep expertise in the franchising space and her proven ability to build and execute successful franchising strategies at major restaurant brands will be invaluable as we continue to scale the Potbelly brand nationwide. We are thrilled to welcome her to the team and look forward to working together to execute against our long-term growth strategy.”

Key Points: 
  • CHICAGO, June 12, 2023 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), the iconic neighborhood sandwich shop, today announced two strategic appointments to its corporate leadership team.
  • Industry veteran Lynette McKee, CFE has been named Senior Vice President of Franchising, overseeing all aspects of franchisee recruitment and sales.
  • Patrick Walsh joins Potbelly as Chief People Officer and will oversee and lead the brand’s People team and human resources across the company.
  • “Franchise-focused development is one of our five strategic pillars to drive long-term profitability and growth,” said Bob Wright, president and CEO of Potbelly.

Potbelly Corporation Continues Growth in Florida with New Shop Development Agreement

Retrieved on: 
Monday, April 24, 2023
Stellar, Growth, Coffee, Partnership, Investment, Potbelly Sandwich Shop, Restaurant, Starbucks, Fast food, Hotel, Potbelly

CHICAGO, April 24, 2023 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB ) (“Potbelly” or the “Company”), the iconic neighborhood sandwich shop, today announced it has finalized a 16-unit shop development agreement in two Florida markets.

Key Points: 
  • CHICAGO, April 24, 2023 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB ) (“Potbelly” or the “Company”), the iconic neighborhood sandwich shop, today announced it has finalized a 16-unit shop development agreement in two Florida markets.
  • This agreement includes 14 shops in Broward County and two shops in Gainesville.
  • We look forward to expanding the Potbelly brand in the Florida market with a Shop Development Area Agreement (SDAA) for 16 new shops, following our previous announcements for 20 units in the central Orlando and Tampa areas.
  • The brand also plans to refranchise approximately 25% of its company owned shops in conjunction with Shop Development Area Agreements.

Potbelly Advances Franchise Growth Acceleration Initiative with Strategic Refranchising in 2023

Retrieved on: 
Thursday, April 20, 2023
Growth, The Company, AUV, Potbelly Sandwich Shop, Tech, UOG, Fast food, Potbelly

CHICAGO, April 20, 2023 /PRNewswire/ -- Potbelly Corporation (NASDAQ: PBPB) ("Potbelly" or the "Company) has prioritized refranchising in 2023, aiming for approximately 25% of its corporate locations to convert during the next three years.

Key Points: 
  • Beyond refranchising, the brand's U.S. growth plans through franchising call for significantly advancing its national footprint.
  • Potbelly is focused on a 10% annual new unit growth rate by 2024, with accelerated expansion in the years to follow.
  • "We are zeroed-in on our growth goals, which includes a huge prioritization on refranchising," said Larry Strain, Chief Development Officer at Potbelly.
  • "Our Franchise Growth Acceleration Initiative pairs new shop development with a plan to refranchise an ample amount of corporate shops, creating enormous potential for multi-brand franchisees ready to grow with a distinguished concept like Potbelly," said Bob Wright, CEO of Potbelly.

 Potbelly Corporation Provides First Quarter 2023 Business Update

Retrieved on: 
Monday, April 10, 2023
Pillar, Growth, Wright, Video game, Financial adviser, Management, Potbelly

CHICAGO, April 10, 2023 (GLOBE NEWSWIRE) --  Potbelly Corporation (NASDAQ: PBPB) (“Potbelly” or the “Company”), the iconic neighborhood sandwich shop, today provided an update on its business and financial results during the first quarter ended March 27, 2023, in conjunction with the Company’s participation in a Non-Deal Roadshow sponsored by William Blair.

Key Points: 
  • Bob Wright, President and Chief Executive Officer of Potbelly, said, “The strong momentum with which we exited 2022 extended into the first quarter.
  • We expect our first quarter results will surpass the previously stated guidance ranges, driven by strong customer demand, continued execution of the Five-Pillar Strategy and focus on operational excellence, as well as successful marketing initiatives.
  • We also enjoyed good progress in our Franchise Growth Acceleration Initiative during the quarter, as we signed a new franchise development deal and our first refranchising transaction in the New York City market.
  • The Company expects to release final financial and operating results for its fiscal first quarter ended March 27, 2023, in May 2023.