Portillo’s Shares Business Update Focusing on Development Goals and Streamlining Initiatives

Strategic Reset: Portillo’s has announced a strategic reset focusing on core markets, enhancing unit economics, and sustainable growth, with priorities including driving traffic and simplifying operations.

Updated Financial Targets: The company has revised its fiscal 2025 financial targets, expecting a decline in same-restaurant sales and reducing unit growth from 12 to 8 new locations.

Future Development Plans: Portillo’s plans to open 8 new restaurants in fiscal 2026, including its first airport location, with a projected average build cost of less than $5 million per restaurant.

Cautionary Note: The press release includes forward-looking statements that are subject to various risks and uncertainties, emphasizing the potential for actual results to differ from expectations.