Potbelly Corp. said on Tuesday that its adjusted net income rose 36 percent in the fourth quarter ended Dec. 27.
The Chicago-based sandwich chain said that adjusted net income rose to $2.3 million, or 8 cents per share, from $1.7 million, or 6 cents, in the same period a year ago.
The higher profits also came during a quarter in which the chain’s same-store sales rose 3.7 percent. For the year, same-store sales at the 408-unit chain rose 4.4 percent.
“We are very pleased with our results in the fourth quarter and for the full year 2015,” CEO Aylwin Lewis said in a statement. “The men and women across the Potbelly Nation continue to do great work and were the driving force behind our strong results in 2015.”
Revenues in the quarter increased 12.1 percent to $95.1 million from $84.8 million. For the year, revenues rose 14 percent at the chain to $372.8 million from $327 million.
Adjusted net income for the year increased 22.3 percent to $8.2 million, or 29 cents per share, from $6.7 million, or 22 cents.
The company opened 53 new shops in 2015, including its first franchised shop in the United Kingdom.
For 2016, the company expects as many as 65 new shop openings and adjusted net income growth of at least 20 percent. It expects same-store sales to rise 3.5 percent to 4.5 percent for the year.
Contact Jonathan Maze at [email protected].
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