Here's Why Sweetgreen Stock Soared Today
Shares of salad restaurant chain Sweetgreen (NYSE: SG) soared on Friday after the company released financial results for its second quarter of 2024. As of 10 a.m. ET, Sweetgreen stock was up a whopping 25%.
In Q2, Sweetgreen generated revenue of $185 million. This 21% year-over-year increase is the result of same-store-sales growth of 9% and of new restaurants in the system -- four net new locations opened during Q2 alone.
CEO and co-founder Jonathan Neman credited new menu items with Sweetgreen's growing popularity, saying, "Sweetgreen's expanding menu is hitting the mark with customers."
Source Fool.com
