Sweetgreen Shares Up After Fourth Quarter and Fiscal Year 2021 Financial Results
Mar 4, 2022 By MarketDepth
Sweetgreen, Inc. (NYSE: SG) shares jumped more than 20% after the restaurant and lifestyle brand that serves healthy food at scale, today announced financial results for its fourth fiscal quarter and fiscal year ended December 26, 2021.
Revenue Up 60%
For the fourth quarter of fiscal year 2021, compared to the fourth quarter of fiscal year 2020, total revenue was $96.4 million versus $59.2 million in the prior year period, an increase of 63%. And Same-Store Sales Change of 36% versus Same-Store Sales Change of (28%) in the prior year period.
“Our strong fourth quarter performance reflects our continued commitment to delivering sustainable results and great outcomes for our customers, our communities, and our company. We are extremely proud of our financial performance following a successful IPO and remain laser focused on executing against our growth strategies, including expanding and evolving our footprint and enhancing our digital experience with a focus on owned digital relationships. I have so much gratitude for our team members and network of more than 200 sustainable farmers and suppliers who power our mission every day of building healthier communities by connecting people to real food.”
Co-Founder and CEO Jonathan Neman
“Our fourth quarter results demonstrate continued recovery from the pandemic,” said CFO Mitch Reback. “We showed meaningful operating leverage as we experienced revenue growth, narrowed our operating loss, improved restaurant-level margins and leverage in our G&A, excluding stock-based compensation and non-recurring items. As we enter 2022, we are well positioned to make further progress towards our financial goals that prioritize unit growth and profitability.”
