BUZZ-Sweetgreen slips after Q4 miss, wildfires update

Shares of salad chain Sweetgreen SG.N down 2.4% at $22.58 early Thurs after qtrly results missed expectations, and co provided 2025 outlook

Los Angeles-based restaurant firm late Weds said Q4 rev grew 5% y/y to $160.9 mln as same-store sales (SSS) increased 4%. Analysts had called for rev of $161.9 mln and SSS up 6.1%, per LSEG

Adj loss/sh of 25 cents in qtr exceeded consensus by 5 cents

On the call with analysts, co said extreme weather in Jan and Feb affected guest traffic in 60% of its fleet

The wildfires in LA, a market representing nearly 15% of its rev, also significantly disrupted operations though didn't physically damage locations, co said

As such, co forecasted Q1 rev of $163-$166 mln and SSS to decline 3%-5%

For the full-year, it sees rev of $760-$780 mln and SSS to increase 1%-3%

At least 5 brokerages reduce PTs, including JP Morgan ($32 from $38), Citigroup ($39 from $43) and UBS ($35 from $45)

Of 12 brokerages covering SG, recommendations are 8 "strong buy" or "buy", 4 "hold"; median PT of $34 down from $42 a month ago

With move on Thurs, stock down ~29% YTD and has halved from 1-yr high hit in Nov