Sweetgreen, Inc. (SG) shares are surging on Friday morning trade after the company reported Thursday a narrower net loss for the first quarter, on 26 percent increase in revenues.
The quarterly loss was $26.1. million, compared to $33.7 million in the prior year.
Looking ahead to fiscal 2024, the company expects revenues in a range of $660-$675 million and same-store sales change of 4-6 percent.
Currently, shares are at $33.00, up 40.07 percent from the previous close of $23.56 on a volume of 10,446,274.
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