Sweetgreen to Use Pricing Power Judiciously
Shares Jump After Earnings Report
Salad Chain Plans Expansion
Sweetgreen, the popular salad chain, has announced that it will be judicious in its use of pricing power. The company's shares jumped after it posted strong earnings, with analysts raising their price targets. Sweetgreen plans to use its pricing power to fund its expansion plans, with a goal of becoming as large as McDonald's.
Sweetgreen's CEO, Jonathan Neman, said that the company will be "thoughtful" about how it uses its pricing power. He said that the company wants to make sure that its food is affordable for all customers, while also ensuring that the company is profitable.
Sweetgreen's expansion plans include opening new stores in both urban and suburban areas. The company also plans to invest in new technology, such as mobile ordering and delivery. Neman said that he believes that Sweetgreen has the potential to become a global brand.
Analysts are optimistic about Sweetgreen's future. Morgan Stanley raised its price target on the company's stock to $17 from $16, while maintaining an "Underweight" rating. The analysts said that they believe that Sweetgreen has a strong brand and a loyal customer base.
Sweetgreen's stock has been on a tear in recent months. The company's shares have more than doubled in value since the beginning of the year. The company's strong earnings report and expansion plans have helped to drive the stock higher.
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