Portillo's lowers full-year sales expectations [Yahoo! Finance]
K PLUS S AG S/ADR (KPLUY)
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Source: Yahoo! Finance
Portillo's has announced a “strategic reset” of its growth plans, including a sharpened focus on core markets, enhancement of unit economics, and a discontinuation of its breakfast pilot in Chicago. Portillo's also lowered its full-year same-store sales outlook to -1.5% to -1%, from 1% to 3% previously issued. The chain now expects to open eight new units for the fiscal year, versus its previous target of 12. “As we advance Portillo's growth strategy, two priorities stand out. First, driving sustainable traffic through consistent service and value. And second, disciplined development with restaurants designed for strong unit economics, attractive four-wall returns, and efficient capital deployment that will fuel long-term growth,” president and chief executive officer Michael Osanloo said in a statement. Osanloo added that the company is focused on four priority areas: Drive transactions by reinforcing value and service Simplify operations, including the discontinuatio
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