Potbelly Corp. (Nasdaq: PBPB) reported strong growth in their digital business, with year-over-year growth accounting for 40% of total sales. Despite a 6% decrease in total revenue, the company’s adjusted EBITDA increased by 2.2% to $5.7 million.
CEO Bob Wright highlighted the success of Potbelly’s cost management strategies, resulting in a 150-basis point expansion in shop-level margins. Additionally, the franchise sales team added 32 commitments to the pipeline, leading to a 26% increase in open and committed shops compared to the previous year.
In response to their performance, Potbelly announced a $20 million share repurchase program and unveiled a new restaurant design prototype. For more information on Potbelly’s successes and updates, please visit Exec Edge at executives-edge.com or contact them at Editor@executives-edge.com.
