Sweetgreen narrows quarterly loss and improves full-year sales outlook
Sweetgreen reported third-quarter revenue of $176 million, up 2.1% and above analysts’ expectations of $170.1 million, while its loss narrowed to $30.7 million from $36.1 million a year earlier. The salad chain now expects full-year same-store sales to decline about 5.5%, compared with its previous forecast of a 7% to 8% decline. Third-quarter same-store sales fell 6.4%, reflecting a 4.9% decrease in customer traffic.