Thu, Feb 27, 11:07 AM (59 days ago)
**Sweetgreen, Inc. (SG) 2024 10-K Summary** Sweetgreen, Inc. reported a revenue increase of 16% to $676.8 million for fiscal year 2024, driven by 25 new restaurant openings and a 6% same-store sales growth. However, the company incurred a net loss of $90.4 million, an improvement from the prior year's loss of $113.4 million. Operating expenses rose, with significant increases in food, labor, and occupancy costs, reflecting inflationary pressures. The company’s average unit volume was $2.92 million. Sweetgreen's strategic focus remains on expanding its footprint and enhancing its digital channels, with 30% of revenue from Owned Digital Channels. Future growth is contingent on effective site selection and market penetration, amidst challenges such as labor shortages and economic downturns. The company faces risks from competition, supply chain disruptions, and regulatory changes impacting costs. Sweetgreen maintains a strong emphasis on sustainability and innovation, including the deployment of its kitchen automation technology, Infinite Kitchen. The financial outlook hinges on balancing growth with profitability amidst fluctuating market conditions and potential increases in operating costs.