Sweetgreen will be 'judicious' in its use of pricing power: CEO

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Sweetgreen (SG) shares jumped after the company posted its second quarter earnings which beat Wall Street expectations, with the company raising full-year outlook for same-store sales.

Sweetgreen Co-Founder & CEO Jonathan Neman joins Market Domination alongside Yahoo Finance Reporter Brooke DiPalma to give insight into the company's earnings as well as how it may operate moving forward.

Neman says he feels "really good" about the company's path to profitability as it continues to grow and was pleased with the quarterly results.

In terms of using Sweetgreen's pricing power, Neman says: "I think we're going to be very judicious in how we use it...I think one of the benefits we're seeing right now is we've taken less price than our competition over the past four years. So as you look at the relative pricing difference between Sweetgreen, some of our fast-casual competitors and then QSR, the gap has really narrowed. I mean, QSR, you can't get in and out of there for under $15 today."

Neman also elaborates on the "infinite kitchens" Sweetgreen has rolled out in a number of locations, using automation to scale back employees needed in each location. He claims "Typically the entire team on staff is about a third of the number of employees needed."

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This post was written by Nicholas Jacobino

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