Sweetgreen, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 24, 2023
November 03, 2023 at 01:35 am IST
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Sweetgreen, Inc. reported earnings results for the third quarter and nine months ended September 24, 2023. For the third quarter, the company reported sales was USD 153.43 million compared to USD 124.03 million a year ago. Net loss was USD 25.06 million compared to USD 51.03 million a year ago. Basic loss per share from continuing operations was USD 0.22 compared to USD 0.46 a year ago.
For the nine months, sales was USD 431.02 million compared to USD 351.54 million a year ago. Net loss was USD 85.97 million compared to USD 141.18 million a year ago. Basic loss per share from continuing operations was USD 0.77 compared to USD 1.29 a year ago.
Sweetgreen, Inc. is a restaurant company. The Company, along with its subsidiaries, is engaged in developing a restaurant and lifestyle brand that serves healthy food at scale. It owns and operates approximately 221 restaurants in 18 states and Washington, D.C. It offers signature salads, warm bowls, and plates that are complemented by a seasonal menu that changes five times per year. In Addition, it offers diversified menu to provide customers with a variety of options, including broths, soups, desserts and beverages. It is also engaged in offering consumer packaged goods, such as dressing, sauces, or packaged produce. Its menu offering includes Core menu and Seasonal menu. The Core menu consists of Harvest Bowl, Kale Caesar, Shroomami, Guacamole Greens, Buffalo Chicken Bowl, Fish Taco, Crisp Rice Bowl, Chicken Pesto Parm, Super Green Goddess, Garden Cobb and Hot Honey Chicken. The Seasonal menu consists of Crispy Chicken, Elote Bowl, and Summer Fruits & Burrata.