Potbelly Q1 revenues rise 11.9%

According to the company's reported financial results for the first fiscal quarter ended March 27, 2016, total revenues increased 11.9% to $96.0 million from $85.8 million.

For the thirteen week period, company-operated comparable store sales increased 3.7%, while adjusted EBITDA increased 9.2% to $9.0 million from $8.2 million.

Seven new shops opened, including five company-operated shops and two franchised shops.

Aylwin Lewis, Chairman and Chief Executive Officer of Potbelly Corporation said, "We had a good start to the year, as the positive momentum we experienced throughout 2015 continued into the first quarter. We delivered revenue growth of 11.9% and adjusted net income of $1.1 million, driven by company-operated comparable sales increase of 3.7% and new corporate shop development."

"Our strong business fundamentals are reflected in the results. The results trajectory is excellent over the long term. We will continue to leverage our culture to drive sales, increase our flow-through and improve shareholder value."

For the full fiscal year of 2016, the company expects its company-operated comparable store sales to grow approximately 3.5% to 4.0%; have 55 — 65 total new shop openings, including 45 — 50 company-operated shop openings; and adjusted net income of at least 20% growth.