Why Americans are giving up on Sweetgreen

Core Insights - Sweetgreen is facing significant challenges as its traffic and sales decline, resulting in millions of losses each quarter [1][2] - The company reported a 9.5% decrease in same-store sales and an 11.7% drop in foot traffic in the third quarter of this year [1] - Sweetgreen's share price has plummeted over 80% this year, indicating a loss of investor confidence [2] Company Performance - Sweetgreen has struggled to achieve profitability since its inception in 2007, despite revolutionizing the quick service industry with healthy food options [2] - Investors are increasingly nervous about Sweetgreen's performance, as it has underperformed compared to general market benchmarks [3] Strategic Initiatives - The company is focusing on automation, having acquired Spyce in 2021 to enhance its kitchen technology with robotic systems [3] - Currently, approximately 10% of Sweetgreen's stores are equipped with the automated "Infinite Kitchens" system, although the company has scaled back its initial goal of full automation [4]