A worker wears a Sweetgreen Inc. hat while preparing food inside the company’s restaurant in Boston, Massachusetts.
Adam Glanzman | Bloomberg | Getty Images
Shares of Sweetgreen plunged 23% in extended trading Tuesday after the salad chain lowered its 2022 forecast.
The restaurant company also said it will lay off 5% of its workforce and downsize to a smaller office building to lower its operating expenses.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Loss per share: 36 cents, in line with estimates
- Revenue: $124.9 million vs. $130.2 million expected
This is a developing story. Check back for updates.
Read More: Sweetgreen stock plummets after salad chain cuts forecast, announces