Sweetgreen (SG) shares skyrocketed Friday, a day after the salad restaurant chain slashed its loss, boosted sales, and raised its guidance as it expanded locatioಞns.

Sweetgreen posted a second-quarter net loss of $14.5 million, nearly half of what it was a year earlier, while adjusted earnings befoꦡre interest, taxes, de🌞preciation, and amortization (EBITDA) of $12.4 million was better than expected. Revenue rose 21% year-over-year to $184.6 million, also more than estimates.

The company attributed the revenue jump primarily to the addition of 36 net new restaurant openings versus the same period in 2023, which contributed $18.2 million.  澳洲幸运5开奖号码历史查询:Same-store sales gained 9%, pulling in $13.9 million.

CEO Says 'Expanding Menu Is Hitting the Mark'

Co-founder and 澳洲幸运5开奖号码历史查询:Chief Executive Officer (CEO) Jonathan Neman said Sweetgreen continues to open su🤪ccessful locations across the country, and its "expanding menu is hitting the mark with customers, delivering on craveability, quality and value."

The firm made several updates to its full-year outlook. It now sees 24 to 26 net new restaurant openings (23 to 27 previously); revenue from $670 million to $680 million ($660 million to $675 million); same-store sales growth of 5% to 7% (4% to 6%); restaurant-level 澳洲幸运5开奖号码历史查询:profit margin of 19% to 20% (18.5% to 20%); and adjusted EBITDA of $16 million to $19 million ($10 million to $19 million).

Shares of Sweetgreen jumped 25% to $32.74 as of 10 a.m. ET Friday. They have soared about 190% year-to-date.