BUZZ-Potbelly jumps on raising Q4 forecasts

Reuters
01-14
BUZZ-Potbelly jumps on raising Q4 forecasts

** Sandwich chain Potbelly PBPB.O shares up nearly 14% at $10.32 in afternoon trade

** Co sees Q4 same-store-sales growth of 0.2% to 0.3%, better than its November forecast of a drop between 0.5% and 2.5%

** Expects Q4 adj. EBITDA of $8 mln to $8.4 mln vs prior forecast of $7 mln to $8 mln

** Upside was driven by ongoing product innovation, digital marketing efforts, and various operational improvements, with restaurant-level margin up versus year-ago period - brokerage William Blair

** PBPB stock fell 9.6% in 2024

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