initial public offerings (IPOs) trading on American exchanges

Thursday, July 10, 2014

Potbelly (PBPB) plummets on sales warning

  • IPO'd at $14 on 4 Oct 2013
  • dropped the most since its October initial public offering after its annual profit forecast and quarterly sales trailed analysts' estimates.

  • Shares of Potbelly Corp. (PBPB) are falling 20%  on Thursday continuing a decline that began in after-hours trading on Wednesday, following the company's 2014 second quarter sales warning.

    Potbelly, a sandwich, salads, and fresh foods restaurant chain, announced it's expecting a 1.6% decrease in comparable store sales for the second quarter versus a 3% increase from the 2013 second quarter.

    However, the company is expecting an increase in revenue to $83.6 million, up from $78.2 million from the year ago period, but falling short of the $87 million in revenue analysts are expecting.

    Potbelly will announced its 2014 second quarter results after the market closes on August 5.

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