Thursday, February 27, 2020

More Store Closures Ahead For Potbelly

Restaurant Business
Potbelly Sandwich Shop plans to close eight to 10 more underperforming units this year as it faces pressure from declining traffic and attention from activist investors, the fast-casual chain’s executives revealed during a call with analysts Tuesday.

For its quarter ended Dec. 29, the Chicago-based chain reported a slight dip in same-store sales at company-owned units of negative 0.1%. Traffic, however, dropped 6.4%, offset by a 6.7% increase in average check.. . . more