NEW YORK (TheStreet) -- Shares of Potbelly (PBPB) enjoyed a nice ride on Friday, closing up more than 100% in its first day of trading. They continue to rise Monday, currently up over 7%. TheStreet's Debra Borchardt spoke to CEO Aylwin Lewis about the restaurant company's prospects.
Lewis said the company had a really good roadshow, serves great sandwiches and has customers that love them. That winning recipe led to a strong debut on Wall Street, where casual dining has enjoyed a strong 2013. With proper pricing and a customizable product, Lewis said the other two keys for success are having quality products and hiring nice people.
While diners can go to Potbelly for dinner, the focus is clearly on lunch, which drives 60% of the company's business. Although Borchardt questioned the potential for over-saturation in certain markets, Lewis is confident that is not the case.
He insisted it is essential there be enough locations to accommodate the diners, specifically in locations with dense populations such as New York City.He added that the company is focused on expanding one neighborhood at a time and winning loyal customers. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV