Chicago-based Potbelly Corp. reported growth in revenue and same-store sales during the Dec. 29-ended fourth quarter of 2013 despite lapping a 53rd operating week from 2012 and enduring inclement weather in many of its major markets. The fast-casual sandwich chain is forecasting low-single-digit growth in fiscal 2014 for its same-store sales at its company-owned locations, which account for 93 percent of its 319-unit system.
4Q ADJUSTED NET INCOME*
Result: $1.9 million, or 6 cents per share% Decrease: 20.8% (from $2.4 million, or 12 cents per share)
4Q REVENUE
Result: $74.8 million% Increase: 1.7% (from $73.5 million)
4Q SAME-STORE SALES
% Increase at company-operated units: 0.7%Source: Company report
FULL YEAR ADJUSTED NET INCOME*
Result: $8 million, or 34 cents per share% Decrease: 3.6% (from $8.3 million, or 40 cents per share)
FULL YEAR REVENUE
Result: $299.7 million% Increase: 9.0% (from $274.9 million)
FULL YEAR SAME-STORE SALES
% Increase at company-operated units: 1.5%Source: Company report
*Note: Adjusted net income excludes one-time costs related to last year’s initial public offering and any impairment charges, gains or losses on disposal of property and store closures.
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