Why Portillo's Stock Dropped 14.8% This Week
Shares of restaurant chain Portillo's (NASDAQ: PTLO) fell as much as 14.8% in trading this week after reporting second-quarter 2023 financial results. The quarter wasn't all that bad, but it did miss lofty expectations in a few areas. The big theme for Portillo's was price increases not offsetting higher food and labor costs during the quarter.