Potbelly Corp
NASDAQ:PBPB
Potbelly Corp
Potbelly Corp. engages in the owning and operating of sandwich restaurants. The company is headquartered in Chicago, Illinois and currently employs 5,500 full-time employees. The company went IPO on 2013-10-04. The firm owns and operates Potbelly Sandwich Shop concepts in the United States. The firm also has domestic franchise operations of Potbelly Sandwich Shop concepts. The firm through its subsidiaries, owns and operates approximately 397 Company-owned shops in Arkansas, Florida, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Missouri, Mississippi, Nebraska, North Carolina, North Dakota, South Dakota, Tennessee, Texas, Virginia and Nevada. Additionally, Potbelly franchisees operate approximately 46 shops in the United States. The firm's menu includes sandwiches, salads, soups, chili, sides, desserts and, in its breakfast locations, breakfast sandwiches and steel cut oatmeal. Potbelly’s wholly owned subsidiaries include Potbelly Illinois, Inc. (PII), Potbelly Franchising, LLC. and Potbelly Sandwich Works LLC (LLC).
Potbelly Corp. engages in the owning and operating of sandwich restaurants. The company is headquartered in Chicago, Illinois and currently employs 5,500 full-time employees. The company went IPO on 2013-10-04. The firm owns and operates Potbelly Sandwich Shop concepts in the United States. The firm also has domestic franchise operations of Potbelly Sandwich Shop concepts. The firm through its subsidiaries, owns and operates approximately 397 Company-owned shops in Arkansas, Florida, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Missouri, Mississippi, Nebraska, North Carolina, North Dakota, South Dakota, Tennessee, Texas, Virginia and Nevada. Additionally, Potbelly franchisees operate approximately 46 shops in the United States. The firm's menu includes sandwiches, salads, soups, chili, sides, desserts and, in its breakfast locations, breakfast sandwiches and steel cut oatmeal. Potbelly’s wholly owned subsidiaries include Potbelly Illinois, Inc. (PII), Potbelly Franchising, LLC. and Potbelly Sandwich Works LLC (LLC).
Same-Store Sales: Same-store sales grew 3.2% in Q2, driven by both positive customer traffic and higher average check.
Shop Openings: 8 new shops opened in Q2, exceeding expectations; at least 38 new shops planned for 2025, with a strong pipeline for future growth.
Digital Growth: Digital sales made up over 41% of total shop sales, up 140 bps year-over-year; new website and app launched to further enhance customer experience.
Margin Expansion: Shop-level margins improved to 16.7%, up 100 basis points year-over-year, aided by cost control and modest commodity deflation.
Guidance Raised: Full-year guidance was increased for same-store sales growth, unit openings, and adjusted EBITDA.
Franchise Pipeline: 54 new franchise shop commitments were signed in Q2, the largest ever, bringing open and committed shops to 816.
Menu Innovation: New menu items, like the Prime Rib Steak sandwich and Potbelly-branded chips, continue to drive customer excitement and traffic.
Share Buybacks: $1 million in shares repurchased during Q2, with ongoing buybacks planned under the existing program.
