Potbelly Same-Store Sales Increase in Q4 Amid Expansion
Potbelly Corp. (Nasdaq: PBPB) said its average weekly sales increased 1.1% to $25,230 and company-operated same-store sales in the fourth quarter increased 0.3%.
Total revenues decreased 7.3% while adjusted EBITDA increased 30.0% to $9.7 million, they said.
Potbelly said its digital channels improved year-over-year, representing +40% of total shop sales in Q4, with Potbelly Perks a core part of the brand's success and they had 23 shop openings across 10 states.
'We are pleased with what we have accomplished in 2024 as our team did a tremendous job executing against our five-pillar strategy,' Bob Wright, Potbelly's President and CEO, said. ';From re-igniting unit growth with 23 new shop openings and adding 115 shops to our open and committed shop total, to driving a 15% increase in Adjusted EBITDA and developing strong growth drivers with the enhancement of our perks loyalty program and significant menu innovation work, we believe we have taken yet another step toward achieving Potbelly's long-term growth objectives.'
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