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Why Sweetgreen Stock Sank 15% This Week

TheMotleyFool

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Why Sweetgreen Stock Sank 15% This Week: https://g.foolcdn.com/editorial/images/709193/restuarant-stocks-gettyimages-507686834.jpg

Shares of Sweetgreen (NYSE: SG) fell 15% this past week, according to data from S&P Global Market Intelligence, after the salad chain cut its full-year sales forecast.

Sweetgreen's revenue jumped 29% year over year to $124 million in its fiscal third quarter ended Sept. 25. The gains were driven by new restaurant openings and higher sales at existing locations.

Sweetgreen opened 10 net new stores during the quarter and a total of 47 over the past year. That brought its total store count to 176 restaurants as of Sept. 25.

Source Fool.com

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