Potbelly Second Quarter Revenue Climbs 9.2% on Traffic Growth
By Daniella Parra
Potbelly Corporation (NASDAQ: PBPB), the iconic neighborhood sandwich shop concept, said revenue increased 9.2% to $126.6 million in the second quarter.
Company shop sales increased by 8.4% to $124.7 million compared to $115.0 million, with Average Unit Volumes of $25,950, it said in a statement. Potbelly grew same-store sales 12.9%, driven mainly by traffic growth, and continued to take traffic share from the fast-casual category each week, it said.
Potbelly said EBITDA increased to $6.1 million compared to $3.9 million and adjusted EBITDA improved to $8 million compared to $5.8 million.
“We delivered another great quarter for Potbelly, as a result of our team’s hard work and commitment to our unique brand,” said CEO Bob Wright. “We’re encouraged by the progress we’ve made and continue to focus on execution as we build toward achieving our 2024 growth objectives.”
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