Sweetgreen, Inc. reported a revenue of $161.5 million for the thirteen weeks ended March 29, 2026, a decrease of 2.9% compared to $166.3 million for the same period in the previous year. The company experienced a significant shift in profitability, posting a net income of $125.8 million, largely attributed to a $160.6 million gain from the sale of its Spyce business. This contrasts with a net loss of $25.0 million in the prior year. The loss from operations increased to $34.3 million from $28.5 million, reflecting ongoing challenges in the restaurant sector.
In terms of operational metrics, Sweetgreen opened four new restaurants during the quarter, down from five openings in the same period last year. The company now operates a total of 285 locations across 24 states and Washington, D.C. The average unit volume decreased to $2,572, an 11.5% decline from $2,907 in the previous year, while same-store sales fell by 12.8%, primarily due to a decrease in customer traffic and a shift in product mix. The company noted that adverse weather conditions and increased promotional activity contributed to these declines.
Sweetgreen's strategic developments included the completion of the sale of Spyce Food Co. and related kitchen automation technology to Wonder Group, which is expected to enhance operational efficiency through the deployment of Infinite Kitchen technology. As of the end of the reporting period, 33 of Sweetgreen's restaurants utilized this technology. The company anticipates opening approximately 13 new restaurants in fiscal year 2026, with about half featuring Infinite Kitchen units.
The company reported a total of $156.8 million in cash and cash equivalents as of March 29, 2026, a significant increase from $89.2 million at the end of the previous fiscal year. This increase was primarily driven by the cash received from the Spyce sale. Sweetgreen's operational costs rose, with total restaurant operating costs increasing by 6.4% to $145.3 million, driven by higher food, labor, and occupancy expenses. The company continues to face challenges related to inflation and labor costs but remains focused on mitigating these impacts through strategic pricing and operational efficiencies.
Looking ahead, Sweetgreen's management expressed cautious optimism, emphasizing the importance of expanding its restaurant footprint and enhancing customer engagement through digital channels. The company aims to leverage its recent strategic initiatives to improve profitability and navigate the evolving market landscape, while also addressing the ongoing challenges posed by economic conditions and consumer behavior trends.
About Sweetgreen, Inc.
Sweetgreen, Inc. is a mission-driven restaurant and lifestyle brand specializing in healthy, plant-forward, and sustainably sourced food. Operating over 246 locations across the U.S., it offers customizable salads, bowls, and seasonal menus through dine-in, digital, delivery, and catering channels. The company emphasizes transparency, innovation, and community impact, leveraging proprietary technology and a strong supply chain to promote healthier communities and environmentally conscious eating.
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