=Potbelly (PBPB) reported earnings on Tue 2 May 2017 (a/h)

Potbelly reports EPS in-line, misses on revs; lowers FY17 EPS guidance; says operating environment remained highly challenging for restaurants.:

• Reports Q1 (Mar) earnings of $0.05 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.05; revenues rose 6.0% year/year to $101.7 mln vs the $103.36 mln Capital IQ Consensus.
• Co issues downside guidance for FY17, sees EPS of $0.35-0.38, excluding non-recurring items, vs. $0.47 Capital IQ Consensus Estimate and vs prior guidance of $0.45-0.47.
• Company-operated comparable store sales -3.1%.
• Co says the operating environment remained highly challenging for restaurants, and its business performance was reflective of these negative traffic trends experienced throughout most of the industry. Traffic at the end of 2016 continued to decline into 2017.
• Co says its lowered FY17 guidance contemplates a continuation of challenging industry trends, as well as the impact of the closure of its Chicago Midway Airport shop in May.