News

Potbelly sales increase 0.5 percent in Q3

Same-store sales remain down 1.1 percent year-to-date compared to the same period last year.

November 6, 2014

Potbelly Corporation reported a same-store sales increase in company-owned stores of 0.5 percent for Q3, but same-store sales remain down 1.1 percent year-to-date compared to the same period last year.

The sandwich shop chain is forecasting flat to negative low single-digit comparable store sales for FY 2014.

"We feel good about the progress we made in the third quarter. Comparable store sales increased 0.5 percent in Q3, with sequential improvement each month of the quarter," said Chairman and CEO Aylwin Lewis, in a company press release. "While we are encouraged by the improvement in our underlying trends, we know we have plenty of work to do to sustain our stated long-term target of low single-digit comparable store sales growth."

The company opened seven new company-owned shops and one franchised shop in Q3, bringing the total for the year to 23 company-operated shops and four franchised shops. It anticipates opening 40 to 48 total new shops total for the year.