Sweetgreen's Business Struggles: Lower Sales, Layoffs, and Stock Decline

Sweetgreen's salad business has declined, with same-store sales down 9.5% last quarter. The company laid off 10% of its workforce and increased portion sizes, but sales remained weak. French fries were introduced to the menu but failed to boost sales. Over the past year, Sweetgreen shares have fallen over 75%. The company sold its automated kitchen technology, Infinite Kitchen, to Wonder Group for nearly $200 million.