Potbelly Corporation Reports Results for First Fiscal Quarter 2025

Core Insights - Potbelly Corporation reported a system-wide sales growth of 4.8% in the first quarter of 2025, with positive same-store sales growth [1][2] - The company opened four new shops and secured 40 additional franchise commitments during the same period [1][6] - Potbelly reiterated its full-year guidance and introduced a second-quarter guidance of 1.5% to 2.5% same-store sales growth [1][4] Financial Performance - Total revenues increased by 2.3% to $113.7 million compared to $111.2 million in the previous year [5][20] - Average Weekly Sales (AWS) rose by 1.2% to $24,550 from $24,250 [5] - Company-operated same-store sales increased by 0.9% [5][29] Profitability Metrics - GAAP net loss attributable to Potbelly Corporation was $62 thousand, a significant improvement from a net loss of $2.8 million in the prior year [5][20] - Adjusted EBITDA decreased by 2.8% to $5.5 million compared to $5.7 million, impacted by a prior year settlement payment [5][26] - Adjusted net income attributable to Potbelly Corporation was $43 thousand, down from $0.2 million [5][26] Development and Growth Strategy - The company opened four Potbelly shops, including three franchise locations, and signed 40 new franchise commitments, bringing the total to 766 shops as of March 30, 2025 [6][11] - Potbelly aims to open at least 38 new units in 2025 [4][6] Shareholder Returns - During the first quarter, Potbelly repurchased approximately 117 thousand shares for about $1.1 million, with $17.5 million remaining under its share repurchase program [7][8]