Why Potbelly (PBPB) Stock Is Diving This Afternoon

NEW YORK (TheStreet) -- Shares of Potbelly Corp. (PBPB) are falling -18.43% to $11.99 in after-hours trading on Wednesday following the company's warning that it expects weak sales for the 2014 second quarter.

The sandwich chain said it expects to report a 1.6% decrease in comparable store sales for the 2014 second quarter, compared to a 3% increase from the year ago period.

Potbelly estimates it will post an increase in revenue to $83.6 million, up from $78.2 million for the 2013 second quarter, but missing analyst expectations of $87 million in revenue.

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The company said it will test a variety of new marketing, menu, and operational tactics in the 2014 second quarter in an attempt to boost losses, Market Watch reports.

Potbelly is expected to report its second quarter results after the close on August 5.

PBPB Chart PBPB data by YCharts

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