Sweetgreen down after annual forecasts cut on weak demand

Sweetgreen

07/08/2026 11:10

** Shares of salad chain Sweetgreen SG.N down about 15% at $5.00 premarket
** Co cuts fiscal 2026 same-store sales growth, core profit forecast on Thursday, citing reduced consumer demand for fresh prepared foods due to the multistate outbreak of cyclosporiasis
** Now expects same-store sales to decline between 7% and 8%, compared to its prior expectations of 2% to 4% decrease
** Also sees adjusted EBITDA in a loss range of $23 million to $27 million, compared to profit of $1 million to $6 million it expected earlier
** Co missed Q2 revenue estimates on Thursday, hurt by weak traffic at its stores
** Reports quarterly revenue of $192.7 million vs estimates of $194.9 million
** Logs quarterly same-store sales decline of 6.2%, reflecting a 2% decrease in traffic and a 4.2% decrease in product mix
** As of last close, SG down 13% YTD

(Reporting by Sanskriti Shekhar in Bengaluru )
((Sanskriti.Shekhar@thomsonreuters.com))