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.