Sweetgreen falls after cutting annual forecasts on weak dining out demand

Shares of salad chain Sweetgreen SG.N tumble about 20% to $10.01 in extended trading, after cutting annual forecasts as choppy demand for dining weighs on sales

SG now expects annual same-store sales to fall between 6% and 4%, compared with prior target of about flat same-store sales

Company's Q2 revenue falls to $185.6 million and misses estimates of $192.1 million, according to data compiled by LSEG

Company also reports wider net loss of $23.2 million, from $14.5 million a year ago

Cuts annual revenue target to $700 million to $715 million, from earlier target of $740 million to $760 million

YTD, stock down 61% as of last close