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Potbelly Sandwich Works Expands in Virginia Markets with Franchise Expansion Led by Former CEO

1. Potbelly expands in Northern Virginia with eight new store agreements. 2. Expansion extends partnership with former CEO Bryant Keil and his son. 3. New shops expected to boost local jobs and drive long-term growth.

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Why Bullish?

The expansion into Northern Virginia is set to increase revenue and market presence. Similar initiatives in the past, like McDonald's new market entries, have positively influenced stock prices.

How important is it?

The announcement signifies meaningful growth in a strategic market, though its immediate financial influence may be moderated by execution risks.

Why Long Term?

The impact unfolds over time as new stores establish local followings and revenue streams grow, mirroring gradual gains seen in previous franchise expansions.

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MCDDNKN
February 20, 2025 09:00 ET  | Source: Potbelly Sandwich Works, LLC CHICAGO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), the beloved neighborhood sandwich shop, is excited to announce a major expansion in the Northern Virginia market through an extension of its Shop Development Agreement (SDA). This new agreement builds on the company’s existing partnership with former CEO Bryant Keil and his son Hampden Keil, with plans to open additional Potbelly locations in several areas of Northern Virginia. The development of these eight locations aligns with Potbelly’s strategic growth plan to expand its footprint through franchising in the State of Virgina and other key markets nationwide. The company remains eager to partner with passionate multi-unit operators to expand its footprint in its remaining untapped territories in the State of Virginia and Maryland. With a focus on enriching the dining options in Virginia, this expansion underscores the brand’s commitment to fostering strong connections with its customers and communities. Bryant Keil, former CEO of Potbelly, brings unparalleled experience and passion for the brand’s mission to his role as a franchisee. Together with his son, Hampden Keil, the duo is poised to expand Potbelly’s presence in Virginia, delivering the brand’s signature toasted sandwiches, hand-dipped shakes, flavorful soups, and warm, welcoming atmosphere to these bustling communities. Their combined expertise and dedication continue to enhance Potbelly’s reputation for creating vibrant neighborhood hubs. The new shops are expected to contribute to local economic growth by creating numerous job opportunities. Further announcements regarding specific site locations and grand opening events will be shared as plans progress. For more information about Potbelly Sandwich Works’ available franchise opportunities, please contact: Maureen DiStefanoSales Director, Potbelly Sandwich WorksPhone: 445-287-1182Email: Maureen.Distefano@Potbelly.comWebsite: https://franchising.potbelly.com About PotbellyPotbelly Corporation is a neighborhood sandwich concept that has been feeding customers’ smiles with warm, toasty sandwiches, signature salads, hand-dipped shakes and other fresh menu items, customized just the way customers want them, for more than 40 years. Potbelly promises Fresh, Fast & Friendly service in an environment that reflects the local neighborhood. Since opening its first shop in Chicago in 1977, Potbelly has expanded to neighborhoods across the country - with more than 440 shops in the United States including more than 90 franchised shops in the United States. For more information, please visit our website at www.potbelly.com.

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