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☆ Stocks making the biggest moves midday: Dollar Tree, GitLab, Zscaler and more
▼ + stars: | 2024-09-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Dollar Tree — Shares tumbled more than 22% after the discount retailer slashed its full-year outlook for net sales and adjusted earnings per share. GitLab — The software developer's stock soared more than 21% thanks to a strong third-quarter earnings outlook. Zscaler — The stock lost more than 18% after the cloud security company's fiscal first-quarter earnings outlook came in weaker than expected. Zscaler expects to earn between 62 cents and 63 cents per share, below the 73 cents per share analysts were estimating, per LSEG. Asana sees sales for the third quarter coming in between $180 million and $181 million, while analysts expected $182 million, according to LSEG.

Persons: LSEG, Zscaler, Cowen, Andrew Charles, —, Lisa Kailai Han, Michelle Fox Organizations: Dick's, Goods, FactSet, UBS, AMD Locations: Cape Canaveral , Florida

☆ Stocks making the biggest moves premarket: Nvidia, GitLab, Sweetgreen, Dollar Tree and more
▼ + stars: | 2024-09-04 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Dollar Tree — Shares plunged nearly 11% after the dollar store missed second-quarter revenue estimates and trimmed its full-year forecast. Zscaler — Shares of the cloud security company slipped nearly 17% after its fiscal first-quarter earnings forecast missed Wall Street estimates. GitLab — Shares of the software developer surged 11% after its third-quarter earnings forecast surpassed Wall Street estimates. GitLab expects to earn 15 cents to 16 cents per share, while analysts polled by LSEG were calling for 11 cents. The company's full-year revenue forecast of $742 million to $744 million also came in above a forecast $737 million.

Persons: Dick's, Sweetgreen, Cowen, LSEG, PagerDuty, Nordstrom, —, Alex Harring, Jesse Pound Organizations: Nvidia, Bloomberg, U.S . Department of Justice, Dick's, —, Wall, FactSet, AMD —

Morgan Stanley raised its price target on Rivian to $17 from $13. Analyst Frank Lee did raise his price target to $200 from $190, although he added that "the risk-reward is less attractive now." Guggenheim hiked the price target to $735 per share from $700. He did raise his price target for the stock to $225 from $180, although this price hike still implies that Tesla stock could fall 12%. Analyst Adam Jonas raised his price target on the stock to $17 from $13.

Persons: Morgan Stanley, Jefferies, Frank Lee, Lee, Lisa Kailai Han, Michael Morris, Morris, Guggenheim, — Jesse Pound, Morgan Stanley's Simeon Gutman, Gutman, Seth Sigman, Truist, – Samantha Subin, TD Cowen downgrades Charles Schwab, Charles Schwab's, TD Cowen, Bill Katz, Charles Schwab, Katz, mgmt, — Lisa Kailai Han, Wells, Bank of America Wells, Mike Mayo, Mayo, Goliath, Dan Levy, Levy, Dennis Geiger, Geiger, Thomas Fitzgerald, Fitzgerald, David Windley, UnitedHealth's, Windley, UNH, Adam Jonas, Rivian, Jonas, Fred Imbert Organizations: CNBC, HSBC, Qualcomm, Microsoft, Netflix, Guggenheim, Barclays, ISI, Citi, Mizuho, Bank of America, of America, Tesla, UBS, Sweetgreen, sss, IK, TD Cowen downgrades, Airlines, American Airlines, Delta, Jefferies, Presidential, Chevron, Volkswagen Locations: China, Tuesday's, Mayo, U.S, Tesla's, UnitedHealth, UNH's

☆ Sweetgreen CEO: The price value we offer is 'really resonating' with consumers
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSweetgreen CEO: The price value we offer is 'really resonating' with consumersSweetgreen CEO Jonathan Neman joins CNBC's 'The Exchange' to discuss how menu expansion has helped drive Sweetgreen's profitability, where the company is opening automated locations, and more.

Persons: Jonathan Neman Locations: CNBC's

☆ Sweetgreen is selling steak for the first time, and it hopes the pricey add-on will bring protein-hungry customers in for dinner
▼ + stars: | 2024-05-13 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Sweetgreen introduced caramelized garlic steak, which is now the most expensive protein on its menu. The salad chain, which has over 225 locations, added caramelized garlic steak on Tuesday. Axios reported that it's the first red meat Sweetgreen has sold. In comparison, Sweetgreen charges $2.75 to add roasted tofu, $3.75 to add blackened or roasted chicken, and $6.15 to add miso glazed salmon. Neman said that Sweetgreen introduced steak to boost its dinner sales and expand its customer base.

Persons: Sweetgreen, —, Jonathan Neman, they've Organizations: Service, New York Times, Times Locations: Manhattan, Boston, Neman, Australia, New Zealand

☆ Sweetgreen, Chipotle and other fast-casual chains are bucking the consumer slowdown
▼ + stars: | 2024-05-11 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

High-income consumers helped Chipotle Mexican Grill , Wingstop and Sweetgreen report strong sales this quarter, bucking the broader consumer slowdown that's been hurting other eateries. The sector saw higher traffic growth than any other dining sector from November to February, according to GuestXM data. High-income consumers haven't felt the same pinch as those in lower-income brackets. Wingstop saw its same-store sales soar 21% in the quarter. On Thursday, the salad chain reported first-quarter same-store sales growth of 5% and raised its full-year outlook for same-store sales growth.

Persons: Chris Kempczinski, John Peyton, haven't, Wingstop, Michael Skipworth, Jonathan Neman Organizations: Starbucks, KFC, Yum Brands, CNBC, Dine Brands

☆ Sweetgreen shares soar 35% after company beats revenue expectations
▼ + stars: | 2024-05-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

Sweetgreen shares surged 35% on Friday after the company topped Wall Street's revenue expectations for the first quarter. The salad chain reported $158 million in revenue, beating the LSEG consensus estimate of $152 million. It is an increase of 26% from the prior-year period, when it reported revenue of $125.1 million. Neman added that the company remains "on track" to open about seven new automated Infinite Kitchen restaurants this year and plans to establish more next year. The company announced Tuesday it's introducing steak to the menu, expanding its protein offerings with a Caramelized Garlic Steak protein plate, a Steakhouse Chopped warm bowl and a Kale Caesar (Steak) salad.

Persons: Sweetgreen, Jonathan Neman, Kale Caesar, Nicolas Jammet, We're Organizations: Wall, South Lake Union, Analysts Locations: Neman, South Lake, Seattle, Boston

☆ This restaurant chain specializing in salads is primed to surge nearly 50%, Oppenheimer says
▼ + stars: | 2024-05-07 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

The firm reiterated an outperform rating on the restaurant chain stock and listed it as a top pick. Oppenheimer's $34 per share price target implies nearly 50% upside from Monday's $22.74 close. "We believe the model is in the early innings of a powerful earnings revision cycle," analyst Brian Bittner wrote Monday. Bittner, however, sees Sweetgreen reporting a smaller-than-expected loss due to strong margins. However, "our work suggests now is the time to get aggressive as the model transitions to sustainable EBITDA profitability starting in 2024."

Persons: Oppenheimer, Sweetgreen, Brian Bittner, Sweetgreen's, Bittner Organizations: FactSet

☆ I tried Sweetgreen's new meals, and the chicken dinners blow the chain's salads out of the water
▼ + stars: | 2023-10-24 | by ( Nancy Luna | ) www.businessinsider.com time to read: +2 min

Insider was invited to the chain's test kitchen in Los Angeles to try the new dishes. AdvertisementAdvertisementWhen I reviewed Sweetgreen and Cava last month, I found the most superb thing on the Sweetgreen menu was not a salad. They've tested a few of these protein-packed meals over the years. But, the hot honey chicken has been the only core item on the plates menu for the past few years. Besides the new meals, we also tried a third grain the chain is adding to the menu and new toppings such as crispy onions.

Persons: —, Sweetgreen, Nicolas Jammet, Chad Brauze Organizations: Service Locations: Chipotle, Los Angeles, Cava, Angeles

☆ I tried the salads and savory bowls at Sweetgreen and Cava. Both chains are Gen Z favorites — but there's a clear winner.
▼ + stars: | 2023-09-28 | by ( Nancy Luna | ) www.businessinsider.com time to read: +2 min

Cava, billed as a Mediterranean version of Chipotle, went public in June. AdvertisementAdvertisementNewly minted Wall Street darling Cava is a fast-casual chain that sells grain bowls and pitas in an assembly-style format. Rival Sweetgreen, whose shares have plummeted since the company went public in 2021, sells premium salads and warm bowls. It's about two miles from a Cava restaurant in Orange County, the home base of top fast-food brands such as Chipotle and Taco Bell. So, I decided to try the two chains to see why they have such a devoted following among Gen Y and Gen Z consumers.

Persons: —, Sweetgreen, Taco, I've, Gen Y Organizations: Service, Taco Bell, Tender Greens Locations: Los Angeles, Naperville , Illinois, Cava, Tustin , California, Orange County, Base

☆ Sweetgreen sued by workers at 7 New York restaurants for alleged racial discrimination
▼ + stars: | 2023-09-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Ten Sweetgreen employees are suing the salad chain, alleging racial discrimination at seven of its New York City restaurants. The complaint also alleges that managers failed to hire or promote qualified Black employees and gave preferential treatment to Hispanic workers. The plaintiffs allege that store managers said Hispanic people work harder than African Americans and called Black employees lazy. The lawsuit claims managers sexually harassed female workers, making sexual comments and touching them inappropriately. We take these accusations seriously and do not tolerate any form of harassment, discrimination, or unsafe working conditions," a Sweetgreen spokesperson said in a statement to CNBC.

Organizations: New York Supreme, CNBC, Financial, Side . Companies, New York Locations: New York City, New York, Manhattan, Meatpacking District, Greenwich Village, Midtown East, Side, New

☆ Cava and Sweetgreen see delivery orders fall as customers pick up their own food
▼ + stars: | 2023-08-16 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Delivery orders are typically more expensive, thanks to added fees and tips for delivery drivers. But delivery orders have also become an important contributor to restaurants' revenue because customers' receipt totals are higher. Cava's second-quarter sales growth wasn't hurt by softening delivery sales, but the Mediterranean chain's full-year forecast was cautious. After same-store sales growth of 28.4% for the first quarter and 18.2% for the second quarter, Cava is anticipating same-store sales growth of just 13% to 15% for the full year. Uber said its second-quarter delivery sales rose 14%, while DoorDash's total orders climbed 25%.

Persons: Sweetgreen, Mitch Reback, Cava, Tricia Tolivar, didn't, Uber Locations: Cava, North America

☆ McDonald's to launch a spinoff restaurant brand called CosMc's
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMcDonald's to launch a spinoff restaurant brand called CosMc'sCNBC's Kate Rogers joins 'The Exchange' to discuss McDonald's announcing a spinoff brand in 2024, Chipotle's mobile order business, and SweetGreen's acquisition of a robotics startup indicating a pullback on labor costs.

Persons: Kate Rogers

Bank of America thinks momentum is on Sweetgreen's side, even as people return to the office at a slower-than-expected pace. Analyst Katherine Griffin upgraded Sweetgreen shares to buy from neutral, citing increasing foot traffic, sustained momentum in same-store sales growth and long-term plans to automate operations. "Sustained y/y visits growth suggests mobility continues to improve and SG [same-store sales growth] can maintain momentum, removing a key overhang on the stock," Griffin wrote in a Thursday note. The company's long-term plans to automate its kitchens could reduce labor intensity and help with margins, added the analyst. "Based on our saturation analysis, we see potential for SG to achieve its 1,000 [long-term] store growth target.

Persons: Katherine Griffin, Griffin, Sweetgreen's, Sweetgreen, — CNBC's Michael Bloom Organizations: of America, SG Locations: Wednesday's

☆ Inside Sweetgreen's first automated location — and the salad chain's plans to take the tech nationwide
▼ + stars: | 2023-06-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +9 min

But with its so-called Infinite Kitchen, Sweetgreen joins the legion of restaurant companies incorporating automation into their businesses. Sweetgreen plans to open a second Infinite Kitchen location later this year. Unlike the traditional Sweetgreen restaurant, customers won't have to wait 10 to 15 minutes to pick up mobile orders. Source: SweetgreenBehind the counter is the "Infinite Kitchen," which resembles the bulk food dispensers found in some grocery stores. Employees have to set up the Infinite Kitchen in the morning, ensuring it's well-stocked and calibrated for accurate and consistent portions.

Persons: Sweetgreen, Jonathan Neman, William Blair, hasn't, Spyce, —, Timothy Noonan, Noonan, they're, T.D, Cowen Organizations: William, William Blair Growth Stock, MIT, IK, CNBC, Employees, Workers Locations: Chicago, Naperville , Illinois, Boston, Neman, New York, Naperville

☆ Mediterranean restaurant chain Cava files for IPO as revenue climbs
▼ + stars: | 2023-05-19 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Mediterranean restaurant chain Cava saw its revenue rise 12.8% in 2022, according to regulatory filings released Friday as it filed to go public through an initial public offering. Over the last five years, it's converted Zoes' footprint into new Cava locations. Last year, the company's net sales climbed to $564.1 million, 12.8% higher than the year earlier. The company has 263 locations open as of April 16 and plans to open 34 to 44 new units by the end of the year. But investors might have an appetite for Cava stock despite concerns about a potential recession this year hitting restaurant demand.

☆ Salad chain Sweetgreen reports narrowing losses as it aims for profitability
▼ + stars: | 2023-05-04 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Sweetgreen on Thursday reported a narrower-than-expected loss in its first quarter after slowing its expansion to focus on profitability. The salad chain, which went public in November 2021, is aiming to turn a profit for the first time by 2024. Net sales climbed 22% year over year to $125.1 million, and same-store sales rose 5%, topping FactSet estimates of 4.9%. Sweetgreen CEO Jonathan Neman told CNBC that the chain's Chicken + Chipotle Pepper Bowl drew in new customers and generated buzz. Sweetgreen reiterated most of its 2023 forecast, which projects revenue between $575 million to $595 million and same-store sales growth of 2% to 6%.

☆ Sweetgreen renames menu item after Chipotle sues for trademark infringement
▼ + stars: | 2023-04-06 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Sweetgreen said Thursday that it has renamed its newest menu item as part of a tentative agreement with Chipotle Mexican Grill to resolve a lawsuit brought by the burrito chain. Chipotle filed the lawsuit, which claims that the salad chain's "Chipotle Chicken Burrito Bowl" infringed on its trademark, in California federal court Tuesday, just days after the salad chain introduced the item. A Sweetgreen representative said in a statement to CNBC Thursday that the company decided to rename the bowl to the "Chicken + Chipotle Pepper Bowl" to focus on its business and serve customers without distraction. In Chipotle's original complaint, the company said it sent Sweetgreen a cease and desist notice and asked the company to drop "chipotle" from the name when it heard about the Chipotle Chicken Burrito Bowl, but Sweetgreen never responded. (Sweetgreen told CNBC on Wednesday the company responded to the cease and desist on Tuesday, after the lawsuit was filed.)

April 5 (Reuters) - Chipotle Mexican Grill Inc sued fast-casual dining rival Sweetgreen Inc in California federal court Tuesday, claiming the salad chain's new "Chipotle Chicken Burrito Bowl" violates its trademark rights. Chipotle's lawsuit said Sweetgreen's "very similar and directly competitive" bowl is an attempt to capitalize on the Chipotle brand and likely to confuse consumers. Chipotle said it suggested changing the name to something that uses "chipotle in lower-case, in a textual sentence, to accurately describe ingredients of its menu item," like a "chicken bowl with chipotle." Chipotle asked the court for an order blocking Sweetgreen from using the "Chipotle" name and an unspecified amount of money damages. The case is Chipotle Mexican Grill Inc v. Sweetgreen Inc, U.S. District Court for the Southern District of California, No.

☆ Sweetgreen stock falls after Chipotle sues for trademark infringement over burrito bowl
▼ + stars: | 2023-04-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Sweetgreen 's stock fell 10% in morning trading Wednesday after Chipotle Mexican Grill filed a lawsuit against the salad chain alleging trademark infringement over its new "Chipotle Chicken Burrito Bowl." Chipotle filed the suit in California federal court Tuesday, less than a week after Sweetgreen launched the menu item. Chipotle said in its complaint that it sent Sweetgreen a cease and desist notice and asked the company to drop "chipotle" from the name when it heard about the Chipotle Chicken Burrito Bowl, but Sweetgreen never responded. Sweetgreen's website features the product name larger than any other identifying feature that ties it back to Sweetgreen, Chipotle argues in the complaint. In addition to asking the court for an injunction against Sweetgreen, Chipotle is also asking for the profits that Sweetgreen earns from the Chipotle Chicken Burrito Bowl.

☆ Chipotle is suing Sweetgreen over its use of the word 'chipotle' while promoting a new burrito bowl
▼ + stars: | 2023-04-05 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Sweetgreen's chipotle chicken burrito bowl is the subject of a lawsuit filed Tuesday by Chipotle. The Mexican chain's complaint centers on the "chipotle-chicken burrito bowl," which Sweetgreen added to its menu last month. Chipotle's issue isn't that Sweetgreen used the word "chipotle" alone, the company said in a complaint filed Tuesday in U.S. District Court in Southern California. One example cited in the complaint shows a sign that Sweetgreen uses to promote the burrito bowl. A portion of Chipotle's complaint against Sweetgreen shows a Sweetgreen sign promoting the chipotle-chicken burrito bowl, with the word "chipotle" in all-caps and against a red background.

☆ Sweetgreen is among the 12 chains Taco Bell owner, Yum Brands, could buy as the company's CFO tells investors it's hunting for an acquisition
▼ + stars: | 2022-11-30 | by ( Nancy Luna | ) www.businessinsider.com time to read: +11 min

A Yum Brands exec said the company was "scanning categories" that don't compete with its brands. Analyst Mark Kalinowski identified 12 chains Yum Brands could target, including Sweetgreen. Habit was Yum Brands' latest acquisition — it purchased the fast-casual chain in March 2020 in a deal valued at $375 million. Zoe's Kitchen could be a buy target for Yum Brands, a veteran analyst wrote in a research note last week. "It has a market cap bigger than I would have expected, so it'd be an expensive purchase for Yum Brands."

☆ Sweetgreen is launching its first national dessert — a 'healthy' take on the Rice Krispies Treat
▼ + stars: | 2022-11-07 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Sweetgreen is launching its take on Rice Krispies Treats, its first dessert since 2014. The Crispy Rice Treat is available nationwide starting Monday for $2.95. To create the new dessert, Sweetgreen teamed up with pastry chef Malcolm Livingston II as the company's first chef in residence. Jammet said he met Livingston a few years ago in Copenhagen and he stayed in touch with the pastry chef. It was a "no-brainer" to start with a version of the Rice Krispies Treat given the nostalgia it evokes, Livingston said.

☆ Why an early investor in Blue Bottle Coffee and Sweetgreen says he's found the 'holey grail' in a Hawaii doughnut chain
▼ + stars: | 2022-09-20 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

Founded by two siblings, Holey Grail sells doughnuts made-to-order with local ingredients. Since it opened, Holey Grail has attracted long lines of customers — and hungry startup investors. Holey Grail DonutsInvestors like True say they've sniffed out a multi-million dollar opportunity with Holey Grail, one that defies the norms of an industry that has focused on the more lucrative software market. With $9 million in funding from investors like Collaborative Fund and Lee Fixel, Holey Grail wants to change up the multibillion-dollar doughnut market. But Holey Grail isn't the only food chain to benefit from the cravings of tech's monied elite.

☆ How an entrepreneur started a doughnut chain in Hawaii and landed $9 million in VC funding from early investors in Sweetgreen and Blue Bottle
▼ + stars: | 2022-09-19 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

Since it opened, Holey Grail has attracted long lines of customers — and hungry startup investors. Holey Grail DonutsInvestors like True say they've sniffed out a multi-million dollar opportunity with Holey Grail, one that defies the norms of an industry that has focused on the more lucrative software market. With $9 million in funding from investors like Collaborative Fund and Lee Fixel, Holey Grail wants to change up the multibillion-dollar doughnut market. Hole in oneAt first glance, Holey Grail is an unlikely bet for top technology investors. But Holey Grail isn't the only food chain to benefit from the cravings of tech's monied elite.

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