Potbelly ($PBPB) shares are down to less than a fifth of their peak dating back to a 2013 IPO, and as diets consisting of keto, kimchi, kale, and kiwi, chip into its market share with consumers increasingly committed to cutting down carbs.
People who don't eat salads for lunch are usually psyched about it, and more people are eating salads these days. Perhaps there's a correlation here because Potbelly's Facebook ($FB) Talking About Count is looking slimmer and slimmer these days. Then again, so are Wall Street's expectations - the company will announce earnings Monday, February 24, and analysts tracked by Zacks Investment Research are looking for EPS of one slim penny.
But, there is a silver lining in this meaty, cheesy, carb-y cloud: Potbelly - like many other potbellies - just keeps growing. Our chart above tracks store count over time, and although it's no Shake Shack, Potbelly's growth remains substantial. It tacked on 18% more stores since spring of 2016.
The good news is that like many larger American QSRs, Potbelly has virtually no international exposure. It's something that might have been viewed as crimping growth in prior years - but with Coronavirus outbreak concerns forcing other chains to shut down shop temporarily, Potbelly's US presence may be viewed as an asset and not a liability going forward. Below, we map all its US locations, to date.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.