Why Sweetgreen Stock Tumbled Today
Sweetgreen stock fell after missing Q2 earnings estimates and cutting full-year guidance due to the cyclospora outbreak's impact on consumer demand. Same-store sales declined 6.2%, revenue missed expectations at $192.7M, and the company swung to an adjusted EBITDA loss. While traffic trends showed improvement before the outbreak, management now expects same-store sales to decline 7%-8% for the year.