Main menu


Sweetgreen was not built for post-pandemic culture

featured image

sweet green assembly line

Sweetgreen is looking for ways to stay green and stay casual restaurant chain announced in this week’s earnings report. its revenue isn’t has kept pace with forecasts, and as a result, the company plans to lay off 5% of its support center workforce, among other cost-cutting measures such as shrinking office space.The news caused stock prices to plummet as blue cheese of Buffalo chicken bowl.what I happened to be at the restaurant Sweetgreen. was soon synonymous with avid millennials The quest for self-optimization?

Are you in trouble with Sweet Green?

It’s easy to say that this unfortunate event was the result of a pandemic. Most of the world’s bad business predictions areInterestingly, it also pandemic recovery This derailed Sweetgreen’s 2022 sales forecast.

As CNBC explains“Management has announced an “unprecedented level of summer travel”, a delay in returning to the office, And another wave of new Covid-19 cases. “Sweetgreen has done a lot to establish itself as the quintessential corporate office her ranch, so its continued success will depend on whether the company makes a full return to these corporate offices.” increase. (In fact, until recently, there weren’t any Sweetgreens within a few miles of my house. I’d only been near them when I was at work.)

I can’t imagine too many people ordering the Harvest Bowl even on vacation.At the level at which Americans book summer travel surpass Even in the pre-pandemic year of travel 2019, Sweetgreen’s weekday business has been robbed of its fair share by the PTO. Converting this to sales yields: per CNBC:

This year Sweetgreen now expects annual revenue of $480 million to $500 million, below its previous forecast of $515 million to $535 million. The chain also revised its outlook for same-store sales, projecting growth of 13% to 19% from its previous forecast of 20% to 26%.

This is about 3 million Kale Caesar discrepancies.

“In retrospect, we were wrong on many of these calls,” Sweetgreen CFO Mitch Reback said on the company’s conference call.

Despite a drop in popularity this year, Sweetgreen continues to make interesting moves to secure its future.last year it the spice i gota company focused on robot-powered restaurant tech, with its sights set on the suburbs A new drive-thru conceptCan it regain its reputation as the ideal lunch for highly capable people, or is it made for a world weary of optimization?

As Gia Tolentino once wrote“I go to Sweetgreen on days when I have to eat my veggies right away because I’ve been working until 1 a.m. all week and I have to work until 1 a. Because there is no“Grab” a salad and eat it within 10 minutes while looking at your email. Maybe Sweetgreen will just become the go-to lunch choice for career-oriented office her workers, something many of their formerly loyal customers didn’t want.