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Potbelly:The next Cosi?

Jul 14, 2014 - Crain's Chicago Business
Board and Executive Moves

Fresh, then stale: That's the trajectory of Potbelly Corp. since its initial public offering in October 2013.

The day after Potbelly went public, its shares closed at $32.40. Today, they're worth barely a third as much. One reason: Lately the Chicago-based sandwich chain isn't making money. Preliminary results for its second quarter, which ended June 29, showed that same-store sales sank 1.6 percent-0.9 percent when adjusted for the fact that Easter fell in April. Executives said they were...