Introduction
Potbelly Sandwich Chain has just reached a record revenue milestone, and it’s a cause for celebration! This popular sandwich chain has been around since 1977, and has grown to become one of the most beloved sandwich chains in the United States. With over 400 locations across the country, Potbelly has become a go-to spot for delicious sandwiches, salads, soups, and more. The chain has also been praised for its commitment to sustainability, with many of its locations using eco-friendly packaging and energy-efficient appliances. With its record revenue, Potbelly is sure to continue to be a favorite for many years to come.
Potbelly Sandwich Chain Just Reached Record Revenue
Potbelly Sandwich Shop, a popular sandwich chain, has just announced that it has reached record revenue in the first quarter of 2021. The company reported a total revenue of $127.3 million, up from $117.2 million in the same period last year. This marks the highest quarterly revenue in the company’s history.
The company attributed the success to its focus on customer experience and its commitment to providing fresh, high-quality ingredients. Potbelly has also been expanding its menu offerings, adding new sandwiches and salads to its lineup. The company has also been investing in digital initiatives, such as its mobile app and online ordering system.
Potbelly CEO Aylwin Lewis said in a statement, “We are thrilled to report record revenue for the first quarter of 2021. This is a testament to the hard work and dedication of our team, and our commitment to providing our customers with the best possible experience. We are confident that our continued focus on customer experience and innovation will help us continue to grow and succeed in the future.”
The company has also been investing in its store locations, remodeling existing stores and opening new ones. Potbelly currently has more than 400 locations in the United States and Canada. The company plans to open more stores in the coming months.
Potbelly’s success is a testament to the power of customer experience and innovation. The company has been able to capitalize on its commitment to providing fresh, high-quality ingredients and its focus on customer experience to drive growth and success.
Neighborhood sandwich chain Potbelly has been fighting to return to relevance since the pandemic hit it hard in 2020. From the verge of near bankruptcy to restructuring and slowly clawing back to popularity, the chain saw record revenue in the last quarter, according to QSR Magazine. It appears its multifaceted approach to returning to profitability is working, as it had one of its best quarters ever.
These record numbers are the result of multiple changes finally coming together. In efforts to right the ship, Potbelly had previously invested in upgrading its app, website, online ordering system, and loyalty program. And all of those things helped the chain stay afloat.
Now, the chain is also seeing a resurgence in foot traffic associated with workers returning to offices and airports, reports QSR. Plus its catering side is seeing new interest from said offices. “We’ve seen great success with that,” CEO Bob Wright said. “The customer feedback is coming back. And that’s what’s breeding more of the repeat business from those catering orders.”
Potbelly is actually benefitting from higher prices at the grocery store and it is seeing people coming to its restaurant instead of other popular chains. CFO Steve Cirulis believes it’s because customers get more value for their money at Potbelly than at the grocery store or through other chains. “We’re pleased to see that they’re choosing us at a rate that’s increasingly more so than our fast-casual competitors,” he said. However, some diners have complained about noticing smaller sandwiches even though the chain had pledged to not raise prices.
From the downward spiral of closing 28 locations in early 2021, Potbelly is still shooting for an earlier defined target of 2,000 total locations over the next 10 years. The chain has about 430 locations, so it has a long way to go, but it is currently planning 24 new units combined across Florida and Illinois.