Bob Wright, the chief executive officer of the Chicago-based sandwich chain Potbelly, said in a May earnings call that customers are “managing their wallets” a little more closely, which means eating out less frequently. “They’re pulling back ever so slightly and probably from a lot of places,” Wright said. “We’re competing with all other restaurants, and we’re competing with the refrigerator."
He continued: “And when people’s entire food budget is under pressure, what they don’t want to do is start compromising on their meal choices.”
