Before the end of the year, markets will welcome Udemy, Rent the Runway, and Allbirds for their debut trades. 😍The way things are shaping up, it looks like they’ll be joined by fast-casual salad chain, Sweetgreen. 😋
The chain, which boasts a multi-billion dollar valuation, operates just 140 locations. Don’t be deceived, though. The chain’s average unit volume (the amount they make on average from each store) is $2.5 million.
During last fiscal year, the salad chain’s revenue was a touch over $220 million, according to the company’s S-1 filing. Sweetgreen’s net loss for FY 2020 was $141 million. In the first nine months of 2021, Sweetgreen reported $243 million. This points to strong growth figures, but the company posted a net loss of $87 million on that revenue. 🤷
With an ambitious plan to double its footprint and move past the pandemic, Sweetgreen could have the makings of a Chipotle-type brand. 💰
Sweetgreen stock will trade under ticker $SG and is expected to have its debut trade before the end of the year.