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    Potbelly Corporation Reports Results for First Fiscal Quarter 2025

    5/7/25 4:05:00 PM ET
    $PBPB
    Restaurants
    Consumer Discretionary
    Get the next $PBPB alert in real time by email

    First quarter system-wide sales growth of 4.8% including positive same-store sales growth

    Four shop openings and 40 additional franchise shop commitments in the first quarter

    Reiterates full-year guidance and introduces 2Q'25 guidance including positive same-store sales of 1.5%-2.5%

    CHICAGO, May 07, 2025 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), ("Potbelly" or the "Company") the iconic neighborhood sandwich shop concept, today reported financial results for its first fiscal quarter ended March 30, 2025.

    Key highlights for the quarter ended March 30, 2025, compared to March 31, 2024:

    • Average Weekly Sales (AWS) increased 1.2% to $24,550 compared to $24,250.
    • Company-operated same-store sales in the first quarter increased 0.9%.
    • Total revenues increased by 2.3% to $113.7 million compared to $111.2 million.
    • GAAP net loss attributable to Potbelly Corporation was $62 thousand compared to a net loss of $2.8 million. GAAP diluted earnings per share (EPS) was ($0.00) compared to ($0.09).
    • Adjusted net income1 attributable to Potbelly Corporation was $43 thousand compared to $0.2 million. Adjusted diluted EPS1 was $0.00 compared to $0.01.
    • Adjusted EBITDA1 decreased 2.8% to $5.5 million compared to $5.7 million as the prior year benefited from a $1.1 million settlement payment received from a third-party software provider.

    (1)   Adjusted net income, adjusted diluted EPS and adjusted EBITDA are non-GAAP measures. For reconciliations of these measures to the most directly comparable GAAP measure, see the accompanying financial tables below. For a discussion of why we consider them useful, see "Non-GAAP Financial Measures" below.

    Bob Wright, President and Chief Executive Officer of Potbelly Corporation, commented, "We are pleased with the great start to 2025 and our strong finish to the first quarter which showcased the strength of the Potbelly brand. Not only did we deliver strong system-wide sales growth including positive same-store sales growth that exceeded our expectations, but we also posted another quarter of strong profitability. Moreover, we made significant progress in our franchise development efforts by delivering on our promise to open four new franchise shops during the first quarter, which included new shops from three different franchise groups across two different states."         

    Wright continued, "Following the extensive work we have done over the past four years to rejuvenate this beloved brand, I am proud to call Potbelly a growth company again. The litany of comp growth drivers at our disposal and clear visibility into our shop growth pipeline for 2025, 2026 and beyond give us great confidence in the future. Ultimately, we expect our efforts across comp growth and unit growth, along with prudent management of our corporate costs, to deliver strong EBITDA growth for many years to come. Our focus continues to be on delivering results that leave no doubt that Potbelly is a compelling long-term growth story."

    Financial Outlook        

    The company introduces 2Q'25 and reiterated 2025 guidance below:

     2Q'25 Guidance
    Same Store Sales % Growth1.5% to 2.5%
    Adjusted EBITDA$8.25M to $9.75M



     2025 Guidance
    Same Store Sales % Growth1.5% to 2.5%
    New Unit GrowthAt least 38 shops
    Adjusted EBITDA$33M to $34M



    Development Update

    During the first quarter, the Company opened four Potbelly shops including three franchise shops with three different franchise partners across two different states.

    In addition, during the first quarter, the Company signed 40 new franchise shop commitments, bringing the total number of open and committed shop count to 766 as of March 30, 2025.

    Share Repurchase Program

    During the first quarter, the Company repurchased approximately 117 thousand shares of its common stock for a total of approximately $1.1 million. As of March 30, 2025, the Company had $17.5 million available under its three-year share repurchase program authorized on May 7, 2024.

    The Company may repurchase shares of its common stock from time to time through open market purchases, in privately negotiated transactions, or by other means, including using trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in accordance with applicable securities laws and other restrictions. The timing and total amount of common stock repurchases will depend upon business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, and other considerations.

    Conference Call

    A conference call and audio webcast has been scheduled for 5:00 p.m. Eastern Time today to discuss these results. Investors, analysts, and members of the media interested in listening to the live presentation are encouraged to join a webcast of the call with accompanying presentation slides, available on the investor relations portion of the Company's website at www.potbelly.com. For those that cannot join the webcast, you can participate by dialing 1-844-676-5533 in the U.S. & Canada, or 1-412-634-6942 internationally.

    For those unable to participate, an audio replay will be available following the call through Wednesday, May 14, 2025. To access the replay, please call 844-512-2921 (U.S. & Canada), or 412-317-6671 (International) and enter confirmation code 10197508. A web-based archive of the conference call will also be available at the above website.

    About Potbelly

    Potbelly Corporation is a neighborhood sandwich concept that has been feeding customers' smiles with warm, toasty sandwiches, signature salads, hand-dipped shakes and other fresh menu items, customized just the way customers want them, for more than 40 years. Potbelly promises Fresh, Fast & Friendly service in an environment that reflects the local neighborhood. Since opening its first shop in Chicago in 1977, Potbelly has expanded to neighborhoods across the country - with more than 440 shops in the United States including more than 90 franchised shops in the United States. For more information, please visit our website at www.potbelly.com.

    Definitions

    The following definitions apply to these terms as used throughout this press release:

    • Revenues – represents net company-operated sandwich shop sales and our franchise royalties and fees. Company-operated sandwich shop sales, net consist of food and beverage sales, net of promotional allowances and employee meals. Franchise royalties and fees consist of royalty income, franchise fee, and other fees collected from franchisees including advertising and rent.
    • Company-operated same-store sales or same-store traffic – an operating measure that represents the change in year-over-year sales or entrée counts for the comparable company-operated store base open for 15 months or longer. In fiscal years that include a 53rd week, the last week of the fourth quarter and fiscal year is excluded from the year-over-year comparisons so that the time periods are consistent. In fiscal years that follow a 53-week year, the current period sales are compared to the trailing 52-week sales to compare against the most closely comparable weeks from the prior calendar year.
    • Average Weekly Sales (AWS) – an operating measure that represents the average weekly sales of all company-operated shops which reported sales during the associated time period.
    • Average Unit Volume (AUV) – an operating measure that represents the average annual sales of all company-operated shops which reported sales during the associated time period.
    • System-wide sales – an operating measure that represents the sum of sales generated by company-operated shops and sales generated by franchised shops, net of all promotional allowances, discounts, and employee meals. Net sales from franchised shops are not included in total revenues. Rather, revenues are limited to the royalties, fees and other income collected from franchisees.
    • EBITDA – a non-GAAP measure that represents income before depreciation and amortization expense, interest expense and the provision for income taxes.
    • Adjusted EBITDA – a non-GAAP measure that represents income before depreciation and amortization expense, interest expense and the provision for income taxes, adjusted to eliminate the impact of other items, including certain non-cash and other items that we do not consider reflective of underlying business performance.
    • Shop-level profit (loss) – a non-GAAP measure that represents income (loss) from operations excluding franchise royalties and fees, franchise support, marketing and rent expenses, general and administrative expenses, depreciation expense, pre-opening costs, restructuring costs, loss on Franchise Growth Acceleration Initiative activities and impairment, loss on the disposal of property and equipment and shop closures.
    • Shop-level profit (loss) margin – a non-GAAP measure that represents shop-level profit expressed as a percentage of net company-operated sandwich shop sales.
    • Adjusted net income (loss) – a non-GAAP measure that represents net income (loss), adjusted to eliminate the impact of restructuring costs, impairment, loss on the disposal of property and equipment, shop closures, and other items we do not consider representative of our ongoing operating performance, including the income tax effects of those adjustments and the change in our income tax valuation allowance.
    • Adjusted diluted EPS – a non-GAAP measure that represents adjusted net income (loss) divided by the weighted average number of fully dilutive common shares outstanding.
    • Shop commitments – an operating measure that represents the number of company and franchise shops that are committed to be developed. For franchise shops, a shop development area agreement (SDAA) or standalone franchise agreement represents a commitment. For company shops, a commitment is made through a good faith combination of business decision-making and capital allocation needed to develop and operate a new shop location.

    Non-GAAP Financial Measures

    We prepare our financial statements in accordance with Generally Accepted Accounting Principles ("GAAP"). Within this press release, we make reference to EBITDA, adjusted EBITDA, adjusted diluted EPS, adjusted net income, shop-level profit, and shop-level profit margin which are non-GAAP financial measures. The Company includes these non-GAAP financial measures because management believes they are useful to investors in that they provide for greater transparency with respect to supplemental information used by management in its financial and operational decision making.

    Management uses adjusted EBITDA, adjusted net income and adjusted diluted EPS to evaluate the Company's performance and in order to have comparable financial results to analyze changes in our underlying business from quarter to quarter. Adjusted EBITDA, adjusted net income and adjusted diluted EPS exclude the impact of certain non-cash charges and other items that affect the comparability of results in past quarters and which we do not believe are reflective of underlying business performance. Management uses shop-level profit and shop-level profit margin as key metrics to evaluate the profitability of incremental sales at our shops, to evaluate our shop performance across periods and to evaluate our shop financial performance against our competitors. Management believes these adjustments provide better comparability of results to the prior period.

    Accordingly, the Company believes the presentation of these non-GAAP financial measures, when used in conjunction with GAAP financial measures, is a useful financial analysis tool that can assist investors in assessing the Company's operating performance and underlying prospects. This analysis should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. This analysis, as well as the other information in this press release, should be read in conjunction with the Company's financial statements and footnotes contained in the documents that the Company files with the U.S. Securities and Exchange Commission. The non-GAAP financial measures used by the Company in this press release may be different from the methods used by other companies. For more information on the non-GAAP financial measures, please refer to the table, "Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures." Because the Company is not able to estimate the impact of specific line items, which have the potential to significantly impact, favorably or unfavorably, the Company's reported earnings in future periods, the Company is not providing a reconciliation for the 2025 guidance.

    Forward-Looking Statements

    In addition to historical information, this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. Forward-looking statements, written, oral or otherwise made, represent the Company's expectation or belief concerning future events. Without limiting the foregoing, the words "believes," "expects," "may," "might," "will," "should," "seeks," "intends," "plans," "strives," "goal," "estimates," "forecasts," "projects" or "anticipates" or the negative of these terms and similar expressions are intended to identify forward-looking statements. Forward-looking statements included in this press release may include, among others, statements relating to our (i) future financial position and results of operations including our ability to deliver strong EBITDA, (ii) our shop growth pipeline for 2025, 2026 and beyond, (iii) future profitability, (iv) 2Q'25 and full year 2025 outlook and guidance and (v) our long-term growth objectives.

    By nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statement, due to reasons including, but not limited to, risks related to competition; the effectiveness of our marketing strategies; general economic conditions; labor; demographic trends; our ability to successfully implement our business strategy; the success of our initiatives to increase sales and traffic; our shift to a more franchised business model; changes in commodity, energy and other costs; compliance with covenants in our credit facility; changes in consumer preferences; our ability to attract and retain qualified management and employees; the success of independent franchisees; consumer reaction to industry-related public health issues and perceptions of food safety; our ability to expand into new markets; our ability to manage our growth; our ability to grow our digital business; reputational and brand issues; security breaches; the price and availability of commodities; failure of our marketing efforts; consumer confidence and spending patterns; and weather conditions. In addition, there may be other factors of which we are presently unaware or that we currently deem immaterial that could cause our actual results to be materially different from the results referenced in the forward-looking statements. All forward-looking statements contained in this press release are qualified in their entirety by this cautionary statement. Although we believe that our plans, intentions and expectations are reasonable, we may not achieve our plans, intentions or expectations. Forward-looking statements are based on current expectations and assumptions and currently available data and are neither predictions nor guarantees of future events or performance. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. See "Risk Factors" and "Cautionary Statement on Forward-Looking Statements" included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's most recent annual report on Form 10-K and other risk factors described from time to time in subsequent quarterly reports on Form 10-Q or other subsequent filings, all of which are available on our website at www.potbelly.com. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

    Investor Contact:

    Jeff Priester

    ICR

    [email protected]

    Media Contact:

    ICR

    [email protected]





    Potbelly Corporation

    Consolidated Statements of Operations and Margin Analysis – Unaudited

    (amounts in thousands, except per share data)
     For the Quarter Ended
     Mar 30,

    2025
     % of

    Revenues
     Mar 31,

    2024
     % of

    Revenues
    Revenues         
    Sandwich shop sales, net$109,002  95.9% $107,577  96.8%
    Franchise royalties, fees and rent income 4,679  4.1   3,576  3.2 
    Total revenues 113,681  100.0   111,153  100.0 
              
    Expenses         
    (Percentages stated as a percent of sandwich shop sales, net)         
    Sandwich shop operating expenses, excluding depreciation         
    Food, beverage and packaging costs 28,451  26.1   29,270  27.2 
    Labor and related expenses 33,097  30.4   32,253  30.0 
    Occupancy expenses 12,027  11.0   11,714  10.9 
    Other operating expenses 20,491  18.8   19,829  18.4 
              
    (Percentages stated as a percent of total revenues)         
    Franchise support, rent and marketing expenses 3,098  2.7   2,537  2.3 
    General and administrative expenses 12,372  10.9   11,547  10.4 
    Depreciation expense 3,721  3.3   3,011  2.7 
    Pre-opening costs 112  NM   —  NM 
    Loss on Franchise Growth Acceleration Initiative activities 35  NM   133  0.1 
    Impairment, loss on disposal of property and equipment and shop closures 27  NM   741  0.7 
    Total operating expenses 113,431  99.8   111,035  99.9 
    Income from operations 250  0.2   118  0.1 
              
    Interest expense, net 167  0.1   364  0.3 
    Loss on extinguishment of debt —  NM   2,376  2.1 
    Income (loss) before income taxes 83  NM   (2,622) (2.4)
    Income tax (benefit) expense (2) NM   51  NM 
    Net income (loss) 85  NM   (2,673) (2.4)
    Net income attributable to non-controlling interest 147  0.1   94  0.1 
    Net loss attributable to Potbelly Corporation$(62) NM% $(2,767) (2.5)%
              
    Net loss per common share attributable to common stockholders:         
    Basic$(0.00)    $(0.09)   
    Diluted$(0.00)    $(0.09)   
    Weighted average shares outstanding:         
    Basic 29,893      29,551    
    Diluted 29,893      29,551    

    _______________________________

    "NM" - Amount is not meaningful





    Potbelly Corporation

    Consolidated Balance Sheets - Unaudited

    (amounts in thousands, except par value data)
     Mar 30,

    2025
     Dec 29,

    2024
    Assets   
    Current assets   
    Cash and cash equivalents$14,756  $11,663 
    Accounts receivable, net of allowances of $38 and $22 as of March 30, 2025 and December 29, 2024, respectively 10,503   9,765 
    Inventories 3,507   3,744 
    Prepaid expenses and other current assets 7,734   7,882 
    Assets classified as held-for-sale —   147 
    Total current assets 36,500   33,201 
        
    Property and equipment, net 51,446   50,533 
    Right-of-use assets for operating leases 131,684   133,207 
    Indefinite-lived intangible assets 3,404   3,404 
    Goodwill 2,049   2,049 
    Restricted cash 815   815 
    Deferred tax assets 33,816   33,816 
    Deferred expenses, net and other assets 6,043   6,121 
    Total assets$265,757  $263,146 
        
    Liabilities and equity   
    Current liabilities   
    Accounts payable$9,345  $9,552 
    Accrued expenses 36,586   32,872 
    Short-term operating lease liabilities 22,460   22,809 
    Total current liabilities 68,391   65,233 
        
    Long-term debt, net of current portion 4,500   4,000 
    Long-term operating lease liabilities 126,180   127,929 
    Other long-term liabilities 8,333   8,036 
    Total liabilities 207,404   205,198 
        
    Equity   
    Common stock, $0.01 par value—authorized 200,000 shares; outstanding 29,890 and 29,364 shares as of March 30, 2025 and December 29, 2024, respectively 400   398 
    Warrants 1,614   1,745 
    Additional paid-in-capital 472,120   470,085 
    Treasury stock, held at cost, 10,584 and 10,445 shares as of March 30, 2025, and December 29, 2024, respectively (121,702)  (120,338)
    Accumulated deficit (293,565)  (293,503)
    Total stockholders' equity 58,867   58,387 
    Non-controlling interest (514)  (439)
    Total equity 58,353   57,948 
        
    Total liabilities and equity$265,757  $263,146 





    Potbelly Corporation

    Consolidated Statements of Cash Flows - Unaudited

    (amounts in thousands)
     For the Year to Date Ended
     Mar 30, 2025 Mar 31, 2024
    Cash flows from operating activities:   
    Net income (loss)$85  $(2,673)
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:   
    Depreciation expense 3,721   3,011 
    Noncash lease expense 5,798   6,191 
    Deferred income tax —   1 
    Stock-based compensation expense 1,548   1,771 
    Asset impairment, loss on disposal of property and equipment and shop closures 400   474 
    Loss on Franchise Growth Acceleration Initiative activities 35   133 
    Loss on extinguishment of debt —   2,376 
    Other operating activities 52   77 
    Changes in operating assets and liabilities:   
    Accounts receivable, net (739)  (441)
    Inventories 242   (33)
    Prepaid expenses and other assets 426   (515)
    Accounts payable (132)  (151)
    Operating lease liabilities (6,454)  (7,254)
    Accrued expenses and other liabilities 3,647   (2,274)
    Net cash provided by operating activities: 8,629   693 
        
    Cash flows from investing activities:   
    Purchases of property and equipment (4,993)  (3,963)
    Proceeds from sale of refranchised shops and other assets —   227 
    Other investing activities 68   — 
    Net cash used in investing activities: (4,925)  (3,736)
        
    Cash flows from financing activities:   
    Borrowings under Revolving Facility 3,000   7,000 
    Repayments under Revolving Facility (2,500)  (2,000)
    Repayments under Term Loan —   (22,827)
    Payment of debt issuance costs —   (345)
    Proceeds from exercise of warrants 358   1,309 
    Employee taxes on certain stock-based payment arrangements (119)  (980)
    Distributions to non-controlling interest (222)  (179)
    Treasury Stock repurchase (1,128)  — 
    Net cash used in financing activities: (611)  (18,022)
        
    Net change in cash and cash equivalents and restricted cash 3,093   (21,065)
    Cash and cash equivalents and restricted cash at beginning of period 12,478   34,537 
    Cash and cash equivalents and restricted cash at end of period$15,571  $13,472 
        
    Supplemental cash flow information:   
    Income taxes paid$—  $12 
    Interest paid$126  $359 
        
    Supplemental non-cash investing and financing activities:   
    Unpaid liability for purchases of property and equipment$928  $909 
    Unpaid liability for employee taxes on certain stock-based payment arrangements$117  $328 





    Potbelly Corporation

    Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures – Unaudited

    (amounts in thousands, except per share data)
     For the Quarter Ended
     Mar 30, 2025 Mar 31, 2024
    Net loss attributable to Potbelly Corporation, as reported$(62) $(2,767)
    Impairment, loss on disposal of property and equipment and shop closures(1) 27   741 
    Loss on extinguishment of debt(2) —   2,376 
    Loss on Franchise Growth Acceleration Initiative activities(3) 35   133 
    Legal settlements(4) 88   — 
    Total adjustments before income tax 150   3,250 
    Income tax adjustments(5) (45)  (254)
    Total adjustments after income tax 105   2,996 
    Adjusted net income attributable to Potbelly Corporation$43  $229 
        
    Adjusted net income attributable to Potbelly Corporation per share, basic$0.00  $0.01 
    Adjusted net income attributable to Potbelly Corporation per share, diluted$0.00  $0.01 
        
    Shares used in computing adjusted net income attributable to Potbelly Corporation per share:   
    Basic 29,893   29,551 
    Diluted 30,783   30,812 





     For the Quarter Ended

     Mar 30,

    2025

     Mar 31,

    2024

    Net loss attributable to Potbelly Corporation, as reported$(62) $(2,767)
    Depreciation expense 3,721   3,011 
    Interest expense, net 167   364 
    Income tax (benefit) expense (2)  51 
    EBITDA$3,824  $659 
    Impairment, loss on disposal of property and equipment and shop closures(1) 27   741 
    Stock-based compensation expense 1,548   1,771 
    Loss on extinguishment of debt(2) —   2,376 
    Loss on Franchise Growth Acceleration Initiative activities(3) 35   133 
    Legal settlements(4) 88   — 
    Adjusted EBITDA$5,522  $5,680 





    Potbelly Corporation

    Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures – Unaudited

    (amounts in thousands, except per share data)
     For the Quarter Ended
     Mar 30, 2025 Mar 31, 2024
    Income from operations [A]$250  $118 
    Income from operations margin [A÷B] 0.2%  0.1%
    Less: Franchise royalties, fees and rent income 4,679   3,576 
    Franchise support, rent and marketing expenses 3,098   2,537 
    General and administrative expenses 12,372   11,547 
    Depreciation expense 3,721   3,011 
    Pre-opening costs 112   — 
    Loss on Franchise Growth Acceleration Initiative activities(3) 35   133 
    Impairment, loss on disposal of property and equipment and shop closures(1) 27   741 
    Shop-level profit [C]$14,936  $14,511 
    Total revenues [B]$113,681  $111,153 
    Less: Franchise royalties, fees and rent income 4,679   3,576 
    Sandwich shop sales, net [D]$109,002  $107,577 
    Shop-level profit margin [C÷D] 13.7%  13.5%





    Potbelly Corporation

    Selected Operating Data – Unaudited

    (amounts in thousands, except shop counts)
     For the Quarter Ended
     Mar 30, 2025 Mar 31, 2024
    Selected Operating Data   
    Revenue Data:   
    Company-operated comparable store sales 0.9%  (0.2)%
    System-Wide Sales:   
    Sales from company-operated shops, net$109,002  $107,577 
    Sales from franchise shops, net 31,659   26,611 
    System-wide sales$140,661  $134,188 



     For the Quarter Ended
     Mar 30, 2025 Mar 31, 2024
    Company-operated shops:   
    Beginning of period346  345
    Openings1  —
    Shops sold to franchise(4) —
    Closures(2) —
    Shops at end of period341  345
    Franchised shops:   
    Beginning of period96  79
    Openings3  3
    Shops sold to franchise4  —
    Closures—  —
    Shops at end of period103  82
    System-wide shops:   
    Beginning of period442  424
    Openings4  3
    Closures(2) —
    Shops at end of period444  427



    Potbelly Corporation

    Footnotes to the Press Release, Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures & Selected Operating Data

    1)     This adjustment includes costs related to impairment of long-lived assets, loss on disposal of property and equipment and shop closure expenses.

    2)     This adjustment includes costs related to the loss recognized upon the termination of the Company's term loan for 2024.

    3)     This adjustment includes costs related to our plan to grow our franchise units domestically through multi-unit shop development area agreements, which may include refranchising certain company-operated shops.

    4)     This adjustment relates to legal fees for a loss contingency recorded in 2024 for a pay disclosure claim in the state of Washington.

    5)     This adjustment includes the tax impacts of the other adjustments listed above based on the Company's effective tax rate.



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    • Potbelly Corporation Announces Conference Call to Discuss First Quarter 2025 Results on May 7, 2025

      CHICAGO, April 17, 2025 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB) ("Potbelly" or the "Company"), the iconic neighborhood sandwich shop concept, today announced the date for the release of its first quarter 2025 financial results. First Quarter 2025 ResultsPotbelly will report its financial results for the fiscal first quarter 2025 on Wednesday, May 7, 2025 after market close. The Company has scheduled a conference call for investors at 5:00 p.m. Eastern Time on the same day to discuss the results. Hosting the call will be Potbelly Corporation's President and Chief Executive Officer, Bob Wright, and Chief Financial Officer, Steve Cirulis. Date: Wednesday, May 7, 2025Time: 5:0

      4/17/25 9:00:00 AM ET
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    • Potbelly Corporation Reports Results for Fourth Fiscal Quarter and Full Year 2024

      Q4 GAAP EPS of $0.15 +67% y-y and Adjusted EPS of $0.13 +550% y-y Q4 increased profitability with Net Income +69% y-y and Adjusted EBITDA +30% y-y Q4 eight shop openings and 29 additional franchise shop commitments in the fourth quarter CHICAGO, March 06, 2025 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), ("Potbelly" or the "Company") the iconic neighborhood sandwich shop concept, today reported financial results for its fourth fiscal quarter and full year ended December 29, 2024 which included 13 and 52 weeks, respectively. The comparable prior-year periods in 2023 included 14 weeks in Q4 and 53 weeks for the fiscal year. Key highlights for the quarter ende

      3/6/25 4:05:00 PM ET
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    • Amendment: SEC Form SC 13D/A filed by Potbelly Corporation

      SC 13D/A - POTBELLY CORP (0001195734) (Subject)

      11/29/24 4:59:58 PM ET
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    • Amendment: SEC Form SC 13G/A filed by Potbelly Corporation

      SC 13G/A - POTBELLY CORP (0001195734) (Subject)

      11/14/24 9:37:59 AM ET
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    • Amendment: SEC Form SC 13G/A filed by Potbelly Corporation

      SC 13G/A - POTBELLY CORP (0001195734) (Subject)

      11/12/24 5:00:59 PM ET
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    • SEC Form 10-Q filed by Potbelly Corporation

      10-Q - POTBELLY CORP (0001195734) (Filer)

      5/7/25 5:13:09 PM ET
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    • Potbelly Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - POTBELLY CORP (0001195734) (Filer)

      5/7/25 4:18:48 PM ET
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    • SEC Form DEFA14A filed by Potbelly Corporation

      DEFA14A - POTBELLY CORP (0001195734) (Filer)

      4/4/25 5:53:14 PM ET
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    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

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    • Potbelly upgraded by The Benchmark Company with a new price target

      The Benchmark Company upgraded Potbelly from Hold to Buy and set a new price target of $15.00

      1/12/24 6:48:07 AM ET
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    • Lake Street initiated coverage on Potbelly with a new price target

      Lake Street initiated coverage of Potbelly with a rating of Buy and set a new price target of $11.00

      10/24/23 9:06:49 AM ET
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    • Craig Hallum initiated coverage on Potbelly with a new price target

      Craig Hallum initiated coverage of Potbelly with a rating of Buy and set a new price target of $15.00

      10/17/23 9:15:03 AM ET
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    • Potbelly Sandwich Works Expands in Texas with Two Franchise Agreements for 11 New Locations in Houston and Austin

      CHICAGO, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ:PBPB), the iconic neighborhood sandwich shop, is excited to announce its continued expansion in Texas with the signing of two Shop Development Agreements (SDAs). These agreements will bring a total of 11 new Potbelly locations to the Greater Houston area and Austin areas, further solidifying the brand's presence in the Lone Star State. Franchise partners Dana and Richard Biddy will open five new shops in the Pearland-Galveston region, while Jignesh and Nitin Patel will open six locations in the vibrant Austin market. These expansions reflect Potbelly's strategic growth plan to partner with passionate, multi-unit opera

      2/26/25 9:00:00 AM ET
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    • Potbelly Sandwich Works Expands into Virginia Beach and Norfolk with Eight New Franchise Locations!

      CHICAGO, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ:PBPB) Premier Eats LLC, a distinguished multi-unit operator in the foodservice industry, has officially signed a Shop Development Agreement (SDA) with Potbelly Sandwich Works to bring eight Potbelly shops to Virginia Beach, Norfolk, and the surrounding South Hampton Roads area. This partnership represents a significant step in expanding the beloved sandwich shop's presence in Virginia and reflects Potbelly's broader commitment to growth in surrounding markets. "We are excited to partner with Premier Eats LLC to introduce Potbelly to Norfolk and Virginia Beach," said Maureen DiStefano, Director of Franchise Develop

      2/26/25 9:00:00 AM ET
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    • Potbelly Sandwich Works Expands Presence in Portland with New 14-Shop Franchise Development Agreement

      CHICAGO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ:PBPB), the beloved neighborhood sandwich destination, is excited to announce a significant expansion in the Pacific Northwest. A recently finalized Shop Development Agreement (SDA) will bring 14 new Potbelly locations to the Portland, Oregon market. The 14 new shops in Portland are a part of Potbelly's strategic growth plan to establish a strong presence in key markets through franchising nationwide. Known for its warm and inviting atmosphere, craveable toasted sandwiches, hand-dipped shakes, and flavorful soups, Potbelly continues to be a favorite destination for fast-casual dining. The company is eager to partner wi

      2/20/25 9:00:00 AM ET
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    • President and CEO Wright Robert D. covered exercise/tax liability with 2,182 shares, decreasing direct ownership by 0.28% to 784,618 units (SEC Form 4)

      4 - POTBELLY CORP (0001195734) (Issuer)

      5/5/25 4:07:04 PM ET
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    • Chief People Officer Walsh Patrick James covered exercise/tax liability with 1,419 shares, decreasing direct ownership by 4% to 36,148 units (SEC Form 4)

      4 - POTBELLY CORP (0001195734) (Issuer)

      4/28/25 5:22:04 PM ET
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    • Amendment: SEC Form 4 filed by President and CEO Wright Robert D.

      4/A - POTBELLY CORP (0001195734) (Issuer)

      4/17/25 9:11:10 PM ET
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    • Large owner Nierenberg David bought $207,502 worth of shares (22,169 units at $9.36), increasing direct ownership by 22% to 124,167 units (SEC Form 4)

      4 - POTBELLY CORP (0001195734) (Issuer)

      3/31/25 9:30:08 AM ET
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    • Large owner Nierenberg David bought $70,149 worth of shares (7,600 units at $9.23), increasing direct ownership by 8% to 101,998 units (SEC Form 4)

      4 - POTBELLY CORP (0001195734) (Issuer)

      1/10/25 7:45:36 PM ET
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    • Large owner Nierenberg David bought $44,367 worth of shares (4,740 units at $9.36) (SEC Form 4)

      4 - POTBELLY CORP (0001195734) (Issuer)

      12/20/24 4:37:51 PM ET
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    Financials

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    • Potbelly Corporation Reports Results for First Fiscal Quarter 2025

      First quarter system-wide sales growth of 4.8% including positive same-store sales growth Four shop openings and 40 additional franchise shop commitments in the first quarter Reiterates full-year guidance and introduces 2Q'25 guidance including positive same-store sales of 1.5%-2.5% CHICAGO, May 07, 2025 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), ("Potbelly" or the "Company") the iconic neighborhood sandwich shop concept, today reported financial results for its first fiscal quarter ended March 30, 2025. Key highlights for the quarter ended March 30, 2025, compared to March 31, 2024: Average Weekly Sales (AWS) increased 1.2% to $24,550 compared to $24,250.Company-operate

      5/7/25 4:05:00 PM ET
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    • Potbelly Corporation Announces Conference Call to Discuss First Quarter 2025 Results on May 7, 2025

      CHICAGO, April 17, 2025 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB) ("Potbelly" or the "Company"), the iconic neighborhood sandwich shop concept, today announced the date for the release of its first quarter 2025 financial results. First Quarter 2025 ResultsPotbelly will report its financial results for the fiscal first quarter 2025 on Wednesday, May 7, 2025 after market close. The Company has scheduled a conference call for investors at 5:00 p.m. Eastern Time on the same day to discuss the results. Hosting the call will be Potbelly Corporation's President and Chief Executive Officer, Bob Wright, and Chief Financial Officer, Steve Cirulis. Date: Wednesday, May 7, 2025Time: 5:0

      4/17/25 9:00:00 AM ET
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    • Potbelly Corporation Reports Results for Fourth Fiscal Quarter and Full Year 2024

      Q4 GAAP EPS of $0.15 +67% y-y and Adjusted EPS of $0.13 +550% y-y Q4 increased profitability with Net Income +69% y-y and Adjusted EBITDA +30% y-y Q4 eight shop openings and 29 additional franchise shop commitments in the fourth quarter CHICAGO, March 06, 2025 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), ("Potbelly" or the "Company") the iconic neighborhood sandwich shop concept, today reported financial results for its fourth fiscal quarter and full year ended December 29, 2024 which included 13 and 52 weeks, respectively. The comparable prior-year periods in 2023 included 14 weeks in Q4 and 53 weeks for the fiscal year. Key highlights for the quarter ende

      3/6/25 4:05:00 PM ET
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      Restaurants
      Consumer Discretionary