Sweetgreen

Financing

Investors regain their taste for Sweetgreen

The Bottom Line: The salad chain’s stock rose 34% on Friday after sales and profitability were better than expected. The company’s shares are above its IPO price for the first time in two years.

Operations

Sweetgreen inches closer to profitability

Despite flat traffic for the first quarter, the fast-casual salad chain raised guidance for the year, citing continuing momentum.

In test, the new protein option made up 20% of dinnertime orders, the daypart the fast casual is targeting for growth.

But the multi-tier Sweetpass subscription program is not showing results. CEO Jonathan Neman says it needs to be simpler.

The healthy fast casual launches Caramelized Garlic Steak in 22 locations, available in three chef-curated menu items.

Rossann Williams was prominent in the coffeehouse chain's early unionization response. Now she joins Sweetgreen as it pushes toward profitability.

The chain on Thursday is adding a third tier to its loyalty program: an annual subscription option for $100.

The second location of the robotic Infinite Kitchen format opened this week as the fast-casual chain prepares for more in 2024 and beyond.

Meet the new Lab37, a subsidiary of CloudKitchens-parent City Storage Systems, which is launching new automated bowl-building technology similar to that of Sweetgreen, Chipotle and others.

The salad chain expects to open as many as nine of its Infinite Kitchen locations in 2024 while two to four existing units will be retrofitted with the robotic make lines. More are planned for 2025.

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