Why Is Sweetgreen Stock Sinking 15% Overnight?
Weaker second-quarter sales and a Cyclospora-related health scare hit Sweetgreen demand and reduced guidance. Sweetgreen posted Q2 revenue of $192.7 million, up 3.8% year over year, but missed analyst expectations. Sweetgreen now expects sales at existing restaurants to fall between 7% and 8% this year. CFO Jamie McConnell said traffic improved before outbreak concerns hurt … Read more