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Sweetgreen (SG) Expands Domestic Footprint With New Location
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Sweetgreen, Inc. (SG - Free Report) unveils its first location in Seattle at The Village of Totem Lake in Kirkland. This marks the company's entry into Washington, the first state in the Pacific Northwest, signifying its focus on domestic expansion.
This expansion emphasizes collaboration, local sourcing and contributing to the unique essence of the Pacific Northwest. The company is optimistic in this regard and introduces a new dining option to The Village of Totem Lake, known for its enriching community experience. The company expects to open two more Sweetgreen restaurants this year, in South Lake Union and Capitol Hill.
With each new market entry, Sweetgreen collaborates with a local partner to make a positive impact. Sweetgreen announces a partnership with Northwest Harvest, a Washington state-based food justice organization. Northwest Harvest provides millions of nutritious meals to more than 400 partner programs and advocates for equitable food policies. For every meal sold on opening day, Sweetgreen will match with a meal donation to Northwest Harvest, supporting local communities facing food insecurity.
Focus on Expansion
Expanding and evolving its footprint in new and existing markets are crucial aspects of the company's strategy for future growth. In the third quarter of 2023, the company opened 15 new restaurants, including its debut in Milwaukee and Orange County. As of Sep 24, 2023, the company had 220 restaurants.
Image Source: Zacks Investment Research
Shares of Sweetgreen have increased 4.2% in the past year compared with the industry’s 3.7% growth. The company is benefiting from higher incremental revenues associated with new restaurant openings, robust same-store sales and strategic pricing.
Zacks Rank & Other Key Picks
Sweetgreen currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Zacks Retail-Wholesale sector are:
Abercrombie & Fitch Co. (ANF - Free Report) currently flaunts a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 713%, on average. Shares of ANF have surged 264.5% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for ANF’s 2024 sales and earnings per share (EPS) suggests increases of 15.1% and 2,320%, respectively, from the year-ago period’s levels.
Arcos Dorados Holdings Inc. (ARCO - Free Report) sports a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 28.3%, on average. Shares of ARCO have surged 39% in the past year.
The Zacks Consensus Estimate for ARCO’s 2024 sales and EPS indicates 10.6% and 15.5% growth, respectively, from the year-ago period’s levels.
Brinker International, Inc. (EAT - Free Report) currently carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 223.6%, on average. The stock has gained 4% in the past year.
The Zacks Consensus Estimate for EAT’s 2024 sales and EPS suggests a rise of 5% and 26.2%, respectively, from the year-ago period’s levels.
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Sweetgreen (SG) Expands Domestic Footprint With New Location
Sweetgreen, Inc. (SG - Free Report) unveils its first location in Seattle at The Village of Totem Lake in Kirkland. This marks the company's entry into Washington, the first state in the Pacific Northwest, signifying its focus on domestic expansion.
This expansion emphasizes collaboration, local sourcing and contributing to the unique essence of the Pacific Northwest. The company is optimistic in this regard and introduces a new dining option to The Village of Totem Lake, known for its enriching community experience. The company expects to open two more Sweetgreen restaurants this year, in South Lake Union and Capitol Hill.
With each new market entry, Sweetgreen collaborates with a local partner to make a positive impact. Sweetgreen announces a partnership with Northwest Harvest, a Washington state-based food justice organization. Northwest Harvest provides millions of nutritious meals to more than 400 partner programs and advocates for equitable food policies. For every meal sold on opening day, Sweetgreen will match with a meal donation to Northwest Harvest, supporting local communities facing food insecurity.
Focus on Expansion
Expanding and evolving its footprint in new and existing markets are crucial aspects of the company's strategy for future growth. In the third quarter of 2023, the company opened 15 new restaurants, including its debut in Milwaukee and Orange County. As of Sep 24, 2023, the company had 220 restaurants.
Image Source: Zacks Investment Research
Shares of Sweetgreen have increased 4.2% in the past year compared with the industry’s 3.7% growth. The company is benefiting from higher incremental revenues associated with new restaurant openings, robust same-store sales and strategic pricing.
Zacks Rank & Other Key Picks
Sweetgreen currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Zacks Retail-Wholesale sector are:
Abercrombie & Fitch Co. (ANF - Free Report) currently flaunts a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 713%, on average. Shares of ANF have surged 264.5% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for ANF’s 2024 sales and earnings per share (EPS) suggests increases of 15.1% and 2,320%, respectively, from the year-ago period’s levels.
Arcos Dorados Holdings Inc. (ARCO - Free Report) sports a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 28.3%, on average. Shares of ARCO have surged 39% in the past year.
The Zacks Consensus Estimate for ARCO’s 2024 sales and EPS indicates 10.6% and 15.5% growth, respectively, from the year-ago period’s levels.
Brinker International, Inc. (EAT - Free Report) currently carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 223.6%, on average. The stock has gained 4% in the past year.
The Zacks Consensus Estimate for EAT’s 2024 sales and EPS suggests a rise of 5% and 26.2%, respectively, from the year-ago period’s levels.