By Dean Seal
Shares of Potbelly fell after the company said bad weather in the Midwest would cause same-stores sales to unexpectedly decline in the current quarter.
The stock was down 17% at $9.78 in midday trading. Shares were trading at $13.50 this time a year ago.
The Chicago sandwich chain on Thursday said it expects same-store sales would fall between half a percent and 1.5% for the fiscal first quarter, which started Dec. 30. Analysts polled by FactSet had been expecting same-store sales to rise 2%.
Chief Financial Officer Steven Cirulis said the figure took a 1.5-percentage-point hit from weather in January and February, particularly in Chicago and other parts of the Midwest, as well as in Texas.
"But for the weather, I think our period-one same-store sales would have been positive," the CFO said on a call with analysts.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 07, 2025 12:47 ET (17:47 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。