Sweetgreen on Thursday reported quarterly sales that fell short of Wall Street's expectations, but narrowing losses.
The company reported an adjusted EBITDA of $3.3 million, swinging from a loss of $7.8 million in the year-ago period.
For 2023, Sweetgreen now expects restaurant-level margins of 16% to 18%, up from its prior range of 15% to 17%.
It also expects adjusted EBITDA in a range of a $10 million loss to breaking even.
The company previously said is adjusted EBITDA would be a loss of $13 million to $3 million.
Persons:
Jonathan Neman, Sweetgreen
Organizations:
CNBC
Locations:
Neman