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Portillo’s Installs New CEO and Slows 2026 Openings After Q4 Same-Store Sales Decline

Management is pivoting to strengthen unit economics in newer markets.

Overview

  • Comparable-restaurant sales fell 3.3% in the fourth quarter ended Dec. 28, 2025, reflecting pressure in newer regions such as Texas.
  • Full-year revenue reached $732.1 million with growth driven by new restaurants, while the company posted a $6.3 million net loss in the fourth quarter.
  • The board appointed Brett Patterson as chief executive effective Feb. 23, 2026 to lead a strategic reset focused on improving performance.
  • Guidance for 2026 calls for eight new restaurant openings and a more deliberate development pace, with the next Atlanta-area unit deferred to 2027.
  • Management plans operational investments and targeted marketing, leveraging a roughly two‑million‑member loyalty program; a smaller Kennesaw prototype generated nearly $4 million in its first 100 days.