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Health and Wellness Stocks in Play - Sweetgreen, Inc. (NYSE: SG) Gives Investors Healthy Profit on First Quarter News

May 10, 2024 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas, reports on trading for Sweetgreen, Inc. (NYSE: SG), the mission-driven, next generation restaurant and lifestyle brand that serves healthy food at scale.

The stock is one of the top percentage gainers on the NYSE in today's trading, currently trading at $31.20, up $ 7.64, gaining over 32 % with a day's high of $34.45 on volume of just under 16 Million shares.

Sweetgreen announced financial results for its first fiscal quarter ended March 31, 2024.

First quarter 2024 financial highlights

For the first quarter of fiscal year 2024, compared to the first quarter of fiscal year 2023:

Total revenue was $157.9 million, versus $125.1 million in the prior year period, an increase of 26%.

Same-Store Sales Change of 5% was consistent with the prior year period.

AUV of $2.9 million was consistent with the prior year period.

Total Digital Revenue Percentage of 59% and Owned Digital Revenue Percentage of 33%, versus Total Digital Revenue Percentage of 61% and Owned Digital Revenue Percentage of 39% in the prior year period.

Loss from operations was $(26.9) million and loss from operations margin was (17) %, versus loss from operations of $(35.3) million and loss from operations margin of (28)% in the prior year period.

Restaurant-Level Profit(1) was $28.5 million and Restaurant-Level Profit Margin was 18%, versus Restaurant-Level Profit of $16.9 million and Restaurant-Level Profit Margin of 14% in the prior year period.

Net loss was $(26.1) million and net loss margin was (17)%, versus net loss of $(33.7) million and net loss margin of (27)% in the prior year period.

Adjusted EBITDA(1) was $0.1 million, versus Adjusted EBITDA of $(6.7) million in the prior year period; and Adjusted EBITDA Margin was 0%, versus (5)% in the prior year period.

6 Net New Restaurant Openings, versus 9 Net New Restaurant Opening in the prior year period.

News:

https://finance.yahoo.com/news/sweetgreen-inc-announces-first-quarter-200500615.html

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