Sweetgreen stock plummets after salad chain lowers forecast, announces layoffs and office downsizing

Sweetgreen stock plummets after salad chain lowers forecast, announces layoffs and office downsizing


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.



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