Potbelly reports Q3 EPS 8c, consensus 4c

Reports Q3 revenue 115M , consensus $113.21M.Company-operated same-store sales in the third quarter decreased 1.8%.Bob Wright, President and Chief Executive Officer of Potbelly (PBPB) Corporation, commented, “During the third quarter, our team once again demonstrated the effectiveness of our five-pillar strategic plan amidst a dynamic consumer environment. Our app and Potbelly Perks program drove a positive shift in our comp trajectory and engagement with our brand, while our $7.99 everyday value platform supported sales and traffic; We achieved a 70-basis point year-over-year improvement in our shop profit margins; metered our G&A spend to deliver EBITDA growth; and opened eight new shops with our franchise partners as we further accelerate our unit growth. While I’m thrilled with what we’ve accomplished together to date, I believe the future for Potbelly is even brighter.” Wright continued, “Starting November 11th, Potbelly customers can enjoy new permanent additions to our core menu, including two new sandwiches made with our slow-cooked pulled pork and they can also uniquely tailor their experience with exciting new sauces and toppings options for every sandwich. In addition, we completed the systemwide rollout of Craft Refreshers at the end of September in partnership with Tractor Beverage Company, capitalizing on the trend toward non-carbonated, cold beverages. Overall, through our craveable, quality food at a great value, a winning digital strategy that continues to drive awareness, connection and traffic, and a strong franchise-led growth pipeline with a clear path to 2,000 units in the US, we are ready to capitalize on the opportunities ahead to take Potbelly to the next level of growth in 2025 and beyond.”