Potbelly Shares Slide After Weather Warning for 1Q

Dow Jones

Mar 08, 2025

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)

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Shares were trading at $13.50 this time a year ago. \n\n\n  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%. \n\n\n  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. \n\n\n  \"But for the weather, I think our period-one same-store sales would have been positive,\" the CFO said on a call with analysts. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 07, 2025 12:47 ET (17:47 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}