We recently published 9 Stocks on Jim Cramer’s Radar. Sweetgreen, Inc. is one of the stocks Jim Cramer recently discussed.
Sweetgreen, Inc. is another fast casual restaurant chain whose shares are in the red so far this year. In his previous comments about the firm, Cramer has compared it to CAVA and lumped them together as being a victim of high prices. The $15 price point has been on Cramer’s mind when it comes to Sweetgreen, Inc. struggles with demand. However, while it is struggling, the firm is still trying to revitalize its operations. Sweetgreen, Inc. is currently aiming to expand its automated kitchen operations and grow its restaurant count. The initiatives are highly needed as the firm’s latest earnings report saw its same-store sales drop by 7.5% as it posted a 20-cent loss per share. Both of these outpaced analyst estimates, which makes it unsurprising that Sweetgreen, Inc.’s shares have lost an unbelievable 73% year-to-date. The firm’s struggles have consistently caught Cramer’s attention, and in this appearance, he discussed Sweetgreen, Inc. as part of his comments regarding turnarounds. Here is what Cramer said about the firm:
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“Sweetgreen, no. That’s going to be too hard. Chipotle very difficult, I think that they’re way, way away.”
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This article is originally published at Insider Monkey.
