Potbelly Corp. PBPB, -0.85% shares tumbled 7% after the sandwich chain reported third-quarter earnings and sales that missed expectations. The company had a loss of $1.97 million, or 8 cents per share, after a loss of $240,000, or a penny per share, last year. Adjusted EPS was 9 cents. Revenue totaled $107.0 million, up from $106.1 million. The FactSet consensus was for EPS of 10 cents and sales of $110.0 million. Potbelly Chief Executive Alan Johnson said in a statement that the company saw an 850-basis-point lift in traffic year-over-year, but will continue to make investments in brand awareness and purchase intent to drive business improvements. Potbelly expects full-year 2018 adjusted EPS of 26 cents to 27 cents, well below the FactSet guidance for 49 cents per share. Potbelly stock has lost 5.6% for the year to date while the S&P 500 index SPX, -0.25% has gained 5% for the period.

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