Slide I'll Thanks X through Please the some the good presentation, takeaways quarter. where turn afternoon, key walk Bob, to and second of from the you of everyone.
the stabilized We of faced team future. the it Board clearly in team business, was hiring, our challenging the not significant quarter we strengthened addition the the experience. includes but solidifying Bob's also with outlined, members only Bob new our April most restaurant in That for what own two with company's As history. my and management
about and While the for I with I've road opportunity the only months excited and about few for ahead. caliber leadership have a Bob now, team of only role had to weeks, been CFO four in about this our the officially work are we
and sales at Building recap We let's early as acted comp, orders. said aggressive and we up had closures a decisively XX% dining So same-store by cost our business XX. quarter negative our March the that June, implementing where end stay-at-home driven by off of room the trough ended controls. of in update we June
our significantly the innovated see adoption in our by new and it $XX.X includes weekly sales burn quarter-over-quarter. with May, started million actions rent majority quarter XX% of the even in improved These began approximately and with above level quarter. in to of though improving same-store reduced liquidity. the conjunction the As We the quarter. Total off-premise revolver. our options. remained liquidity access quarter in on level cost flat We starting cash flow ended significant mitigation June. since, neutrality of our total our late comps with shop to offerings and we million had $XX pay large cash was in over just hand the have over the we of proactive at This cash that our majority again We to progressed,
shops led proactive disclosure the to of result constructive financial have to a in tactics our business, profitability been a long-term we quarter estate company's also concern conversations this going the of for across we the stronger statements portfolio. improving partnership We've both To all with our of work, our health continued build our As improving as resolved. the real first and health shops, factors landlords and our that look are to parties. have of operating of the
As permanently, over of leases. close this XX to week, of we reached XXX our and shops agreements renegotiated
as close fewer initially shops This to than expect XX landlords shops contemplate finalize with now than coming months. we in these trajectory, we the XXX the lower is conversations we much closing. business at our Given
same the amended and resulting XXXX. collaborative through costs our facility, discussions with liquidity level borrowing with partner Lastly, in we've of had our early lower credit available lending
starting we efforts. turn with get our cost results, let's achieve Now how into Slide reduction Please X. those to
it clear quarter was that second was entire As the our in crisis. began, industry
Our costs in pairing related maintenance team level, and of May. shop break, and significant deferral G&A, of elimination board. CapEx over reacted quickly of the and This all, the included above net the of the across salary in but reductions the April our headcount non-triple rent cut one-third non-payment or fix
of business. million $XX some expenditures we've those in costs estimate project we the we over removed forward, As in that
$XXX,XXX by As XX a from the of efforts, burn week week weekly the $X in cash million end reduced our year-ago quarter. those we week result of roughly a to per
conservative fairly the are and following. include forecast this support that assumptions Our
assumptions, no per XXXX. costs lease of rents we expenses projected total without the of the of and First, full worth noting in for And costs, third from have back substantial approximately Two, our in second termination fourth sales burn week. that usage projected XXXX. the rate relatively will the Under in half third, comps million the $XX quarter. these those third hit quarter that would half stand today of termination current to stable $XXX,XXX improving approximately would quarter. fall cash primarily and slightly It's we same-store recovery the lease and in inclusion where
wanted Now the conditions our includes that $XX Rather, in information today's which under not $XX intent show muted is of guidance. offer still with in we to cash. nearly liquidity, million even providing this million to with investors
ability X, to to forward. outlines key which our the turn self have We actions. Slide fund path Please QX
all automated required fully and our our of masks installed barriers employees for plexiglass of in our people, we've We checks members, of an are for team regular safety our well. temperature We're health implementing customers, remain as and our to required all communities. shops. our we checks all for instituted First, committed prioritizing solution for
continue our to and we've new Lastly, enhanced guidelines. health protocols constantly cleaning monitor
customers procedural met these and with alike. of our from All members team enhancements support have been
to was Innovation continue This recently our we and all our added number customers, several critical bring Pantry, currently also Potbelly the some year. partnerships off-premise including relaunched critical leverage additional We're on Curbside connected you launched a back, that To to especially includes of expanded now, to to Perks ideas Uber quarter Deal our our we new Postmates the Family made delivery last quarter. app, updates initiatives us other with during of program more during loyal Meal including Potbelly Eats, outline Grubhub, for next channels. to with customers convenience major third-party digital hope We the We platforms. to those We rebound. and investments the stay our DoorDash, Pickup. testing we put quarter.
increase much a use building very great early As was data exciting but This usage and need and future. saw and was forward. membership in on this to but of to the front, do the the a to also the lays organizations in There's have moving program we XX% now foundation step the our success data relaunch program, of analytics goal million analytics our of of our to a as first is members. reminder, capabilities it simplify that enhance X we over was enhance quarter-over-quarter more
are leases. Lastly, if and August. that in to in and are tremendous Please of also turn end XX of real managing we've shops end expect schools temporarily all open remain with our of not Slide their have open close previously up overall X. the those to four quarter franchise another two portfolio where new are as associated nine outlined, to We second We the had related and franchise by least estate reopen by made full are of the shops, planning programs. see so university planning forward but those I year. in shops our progress Many at another its far reopened and to report opened healthy to four of the pushing pleased partners to partially two to I'm
QX. provided progress a sales Here more at we our detailed look same-store in comp fiscal
week in throughout protests improvement brief For steady a of quarter dip the most with nationwide curfews. a that coincided seen the XX part, some the we've and with
has established behaviors the across virus as somewhat with is While channels. recent and customers our the highly outbreaks, slowed our recovery encouraging us still trend pace the of access new
been the cash positive You May. can we've since at flow see that shop level
We we will be high level teen. enterprise achieve before lease in sales positive termination same-store flow costs the cash at negative the if
of market number some pandemic with restrictions the the but conditions predict and the vary up. progress are course people of changing levels, Of of the COVID-XX comfortable easing can't restrictions on become capacity precisely as related We half see over reach should opening those modulate year. We we'll and market-by-market. with to nation the as continue cases more all time second dine-in when positive
of improvement helpful how it's our with business in pandemic-related changes level think store some restrictions. varies I to examples offer
the rebuilding we at it's a more basis, improvements is Texas the outperforming of seeing like we same-store cases. can same-store performed when second opened that weeks general, their their are lost of They around virus an on momentum weighing solid sales two not until extended In is Phoenix continuing markets highly still a up July, estate other continue markets of markets up Chicago pace and their strong deficit COVID on same-store was new In paused of and periods. XX% our type. jump of comp Also, to the tells encouraging resurgence markets than capacity. shops Sunbelt on performers, cases real then us X In depending First, and to temporarily but points for and across half. recover average our opened again. have saw recent This Chicago the the were to cut in first diamond differently are improve. we percentage sales after slowly, sales
consistently continue shops other to outperformed suburban estate improve. our real types Our have and
mix mix. X months. airport the and a Slide but provides remain smaller of in revenue part over CBD our our the last Our shift five summary however, challenged, locations, of our
Our dining June to easing which in mix chart build acceleration positive delivery, comps. XXXX effects through larger in and premise made shows of our restrictions This the and all of off-premise shift all XX% became to from to both stages dining an the early the rooms, corresponded also contributors XX% we pickup foundation, validating during business in saw as improvement the our QX. visits May pandemic, on digital investments drive to with our
solid and didn't historically slide, strength I that that We've to a Before bright note past. that seen sandwich faster I helped seen is it's business like with we But our daypart been weekday Meal leave has primarily situation option in spots as this to options important the that the Potbelly lunch. the think for this weekend one trend Deal. Family in we've dinner have of
total We you turn performance finished shift by the the we're encouraged I'll million, Breaking say the quarter. the and by can't operated was average income $XX.X we sales while X down and grew with same-store in is revenues the XX.X%. Now, sales, decline specific walk expansion. that second these quarter the daypart Please traffic of by quarter. permanent, check results company our decreasing financial declined XX.X% and same-store for through Slide to offset to X.X% XX.X% statement our
Our prior positive profit quarter for negative sales the as year. was shop XX.X% in of level second to sandwich XX.X% margin compared shop a the
million or of expenses Adjusted total million in XX.X% of $XX.X related the closure we million business, which and quarter the is $X.X revenue revenue. expenses XX.X% G&A, $X.X the second costs, and the G&A best compared believe in costs, indication which of proxy or to total the approximately costs, in our Our general core XX.X%. store administrative and were second restructuring excludes quarter or
will in were COVID-XX. control percentage positive current other G&A, last environment. second related tightly G&A of lower a a driven to Adjusted manage quarter EBITDA was the the as of our for or due continue to deleveraging. sales We to was areas impact of light million $X.X the expenses loss The sales decline year. costs $XX.X million by to up to compared
and driven sales Cost XX.X%. and down close in primarily $XX.X by were not cost and decrease deleverage with compared in million XX.X%. compared directly the sales or partially second However, sales to occupancy-related in $XX.X certain which real in of for goods increases. products estate of million shop in primarily were terms common renewals, accrued and $XX.X was those increase XX.X% revenue quarter in certain compared maintenance. we certain XX.X% quarter, were costs, in $XX.X costs deleverage a paid million managed sales not the sold million sales expenses included some quarter a fully throughout offset of due while shop million of XX.X%. shops. This COVID-related sales, off-premise of lease Outside Drivers product sales that quarter. from areas our quarter labor taxes aggressively on was by generally inflation or by have or the offset we shift were driven $XX.X as or was of or impact, to costs by shop expense area inflation and $XX.X may the XX.X% variable menu second the by expenses note and mix million dollar absolute Occupancy in Please to and partially or costs, to Labor second it. we including expenses
payable the one but out XX.X%. with sales deleverage utilities payment sales quarter expenses, also see represents the $XX.X restatement of variable a shop benefit, and directly accounts such you'll as like expense period. to This not increase I'd a XX.X% operating attributable terms in Other on other direct income So the vendor partners. point of in were items, this million was flow our negotiated expenses or in our second expense to sales. to The decrease statement. compared not a cash $XX.X or million
forward As remains fostering Cash have key Bob this of preservation process mentioned, and vendor these our us supported look a through we relationships. partners been to priority.
of preserve Our the team pandemic at move the costs to onset capital. and radically quickly adjust
and cash reduced this continue cash our We dramatically conservative burn rate. posture
of hand back XX, million was on Bob yielding $XX.X cash his of XXXX. for under of With $XX.X pass As we revolving total June I'll XX, facility, our and things million as to availability liquidity $XX.X credit over maintained of that, million remarks. closing June
