Sweet Growth Transformation Plan
Introduced a comprehensive plan focused on operational excellence, brand relevance, food quality, personalized digital experience, and disciplined profitable investment. Early results show improved peak hour throughput and increased restaurant operational standards from 33% to 60%.
Strategic Sale of Spyce
Sold Spyce to Wonder for $186.4 million, expected to infuse approximately $100 million in liquidity and reduce G&A expenses by $8 million annually. Sweetgreen will continue to utilize and expand Infinite Kitchen technology at cost plus 5%.
New Restaurant Openings
Opened 8 new restaurants in Q3, including 6 Infinite Kitchens, and successfully entered the Arizona market. Plans to open 17 new restaurants in Q4, entering new markets such as Sacramento, Cincinnati, and Northwest Arkansas.
SG Rewards Program
Positive trends in frequency among loyal guests, with significant potential for personalized CRM efforts. Recent rollout of Scan to Pay feature is improving customer experience and throughput.