Sweetgreen stock soars on 26% jump in Q1 revenue
Shares of Sweetgreen (SG) are soaring on Friday, following the company's first quarter results, which beat revenue expectations. Sweetgreen also raised its full-year guidance, further boosting the stock in today's trade. Sweetgreen CEO Jonathan Neman joins the Morning Brief to discuss the company's plans moving forward.
Neman commends the company's "very strong quarter," attributing the success to the consumer's resilience. However, on the operations front, the company grappled with a loss; Neman remains optimistic, stating, "There's a lot of leverage in the business." He hopes the company can overcome this loss and capitalize on the current momentum.
Neman also shares insights into the company's improvements and expansions, including new product offerings and the implementation of advanced technology to enhance productivity and efficiency across locations. Additionally, he outlines Sweetgreen's plans for achieving profitability.
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This post was written by Angel Smith