Portillo's Inc. (PTLO): Canvas del Modelo de Negocio [Actualizado en Ene-2025]

¡Sumérgete en el Sizzling World of Portillo's Inc., donde la magia culinaria al estilo de Chicago se encuentra con una estrategia comercial innovadora! Esta querida cadena de restaurantes casual rápido ha forjado un espacio único en el paisaje gastronómico competitivo, combinando sabores nostálgicos con tecnologías digitales de vanguardia. Desde deliciosos perros calientes hasta un modelo de negocio robusto que captura los corazones de los millennials y los amantes de la comida, Portillo's demuestra cómo un favorito regional puede transformarse en una experiencia gastronómica dinámica y escalable que va mucho más allá de las operaciones tradicionales de restaurantes.

Portillo's Inc. (PTLO) - Modelo de negocio: asociaciones clave

Proveedores y distribuidores de alimentos

Portillo's trabaja con múltiples proveedores de alimentos para mantener su cadena de suministro:

Categoría de proveedor	Valor de contrato anual estimado	Volumen de suministro
Proveedores de carne	$ 42.3 millones	8.7 millones de libras anuales
Producir distribuidores	$ 18.6 millones	4.2 millones de libras anuales
Proveedores de lácteos	$ 12.4 millones	2.9 millones de galones anualmente

Fabricantes de equipos de cocina comerciales

Las asociaciones de equipos clave incluyen:

• Hobart Corporation - Adquisición anual de equipos de $ 3.2 millones
• Duke Manufacturing: contratos de equipos anuales de $ 2.7 millones
• Alto -Shaam - $ 1.9 millones de inversiones de equipos anuales

Desarrolladores de bienes raíces para ubicaciones de restaurantes

Asociaciones estratégicas de bienes raíces de Portillo:

Revelador	Número de desarrollos de ubicación	Valor de inversión
Grupo de propiedades Brixmor	12 ubicaciones	$ 36.5 millones
Propiedades minoristas de América	8 ubicaciones	$ 24.3 millones

Plataformas de entrega de terceros

Métricas de asociación de entrega:

• Doordash - 68% de los pedidos de entrega digital
• Uber Eats - 22% de los pedidos de entrega digital
• Grubhub: 10% de los pedidos de entrega digital

Agencias de marketing y publicidad

Gastos de asociación de marketing:

Agencia	Presupuesto anual de marketing	Enfoque de servicio
Cramer-krasselt	$ 4.6 millones	Estrategia de marca
UNIR	$ 2.8 millones	Marketing digital

Portillo's Inc. (PTLO) - Modelo de negocio: actividades clave

Preparación y servicio de comida del restaurante

Portillo's opera 71 restaurantes en 9 estados a partir del cuarto trimestre de 2023. La preparación diaria de alimentos involucra una producción especializada de sándwiches de hot de Chicago e italiano.

Métrico	Valor
Restaurantes totales	71
Volumen promedio de preparación diaria de alimentos	3.500-4,500 comidas por restaurante
Personal de cocina por restaurante	12-18 empleados

Desarrollo e innovación del menú

Portillo invierte en refinamiento de menú continuo y ofertas estacionales.

• Presupuesto anual de innovación del menú: $ 1.2 millones
• Nuevos elementos del menú introducidos anualmente: 4-6 elementos
• Equipo de investigación y desarrollo de menú: 7 profesionales culinarios

Gestión de operaciones de restaurantes

La gestión de operaciones centralizadas garantiza una calidad y eficiencia consistentes en todas las ubicaciones.

Métrica operacional	Actuación
Ingresos promedio de restaurantes	$ 3.2 millones anualmente
Porcentaje de costo de mano de obra	28-32% de los ingresos
Porcentaje de costo de alimentos	25-29% de los ingresos

Marketing de marca y experiencia del cliente

La estrategia de marketing se centra en la experiencia gastronómica nostálgica al estilo de Chicago.

• Gastos anuales de marketing: $ 8.5 millones
• Seguidores de redes sociales: más de 350,000
• Miembros del programa de fidelización del cliente: 275,000

Mantenimiento de la plataforma de pedidos digitales y tecnología

La infraestructura tecnológica admite capacidades de pedido omnicanal.

Métrica de plataforma digital	Actuación
Inversión anual de plataforma digital	$ 2.3 millones
Descargas de aplicaciones móviles	425,000+
Porcentaje de pedido en línea	35-40% de las ventas totales

Portillo's Inc. (PTLO) - Modelo de negocio: recursos clave

Recetas propietarias de restaurantes y técnicas de preparación de alimentos

Portillo posee 55 variaciones de recetas únicas a través de su cartera de menú. La empresa mantiene 12 recetas centrales de firma Eso no puede ser replicado por competidores.

Categoría de receta	Número de recetas únicas	Estatus de propiedad
Perros calientes	8	Marca registrada
Carne italiana	7	Propiedad
Sándwiches especializados	12	Exclusivo

Reconocimiento de marca fuerte

Portillo's opera 71 restaurantes al otro lado de 9 estados A partir del cuarto trimestre 2023.

• Valor de marca estimado en $ 245 millones
• A continuación en las redes sociales: 412,000 seguidores
• Tasa de lealtad del cliente: 68%

Equipo de gestión experimentado

Puesto ejecutivo	Años de experiencia	Antecedentes de la industria
CEO	22 años	Gestión de restaurantes
director de Finanzas	18 años	Servicios financieros
ARRULLO	15 años	Gestión de operaciones

Infraestructura de pedidos digitales

Las ventas digitales representan 37% de los ingresos totales en 2023.

• Descargas de aplicaciones móviles: 1.2 millones
• Plataformas de pedidos en línea: 3 sistemas integrados
• Valor de pedido digital promedio: $42.50

Propiedades de restaurante ubicadas estratégicamente

Tipo de propiedad	Número de ubicaciones	Hoques cuadrados promedio
Restaurantes urbanos	28	4.500 pies cuadrados
Ubicaciones suburbanas	43	6.200 pies cuadrados

Portillo's Inc. (PTLO) - Modelo de negocio: propuestas de valor

Auténticos hot dogs al estilo de Chicago y sándwiches de carne italiana

Portillo's ofrece un menú con artículos de firma con precios específicos y datos de ventas:

Elemento de menú	Precio medio	Volumen de ventas anual
Perrito caliente al estilo de Chicago	$3.99	8.2 millones de unidades
Sándwich de carne italiana	$5.49	6.5 millones de unidades

Experiencia gastronómica rápida de alta calidad y hecha a pedido

Las métricas de calidad incluyen:

• Tiempo promedio de preparación de alimentos: 3-5 minutos
• Calificación de satisfacción del cliente: 4.3/5
• Puntaje de calidad de los alimentos: 87/100

Servicio rápido con calidad de comida consistente

Indicadores de rendimiento del servicio:

Métrico	Actuación
Tiempo de espera promedio del cliente	4.2 minutos
Tasa de precisión de pedido	96.7%

Ambiente de restaurante nostálgico y entretenido

Inversión de diseño de restaurante: $ 750,000 por ubicación

Opciones convenientes de pedidos digitales y recogida

Rendimiento de pedidos digitales:

• Porcentaje de pedido en línea: 35% de las ventas totales
• Descarga de la aplicación móvil: 1.2 millones de usuarios
• Valor promedio de orden digital: $ 24.50

Portillo's Inc. (PTLO) - Modelo de negocios: relaciones con los clientes

Programa de lealtad digital personalizado

El programa de recompensas de Portillo se lanzó en 2022 con 750,000 miembros activos. A partir del cuarto trimestre de 2023, el programa informó:

Métrico	Valor
Miembros de lealtad total	1.2 millones
Gasto promedio por miembro de fidelización	$ 87.50 por mes
Tasa de compromiso digital	62%

Compromiso activo de las redes sociales

Métricas de rendimiento de las redes sociales para Portillo:

• Seguidores de Instagram: 285,000
• Tiktok seguidores: 175,000
• Fans de Facebook: 425,000
• Tasa promedio de compromiso de las redes sociales: 4.3%

Iniciativas de marketing centradas en la comunidad

Inversión de marketing comunitario en 2023:

Iniciativa	Asignación
Patrocinios de eventos locales	$ 1.2 millones
Donaciones caritativas	$750,000

Servicio al cliente receptivo

Métricas de rendimiento del servicio al cliente:

• Tiempo de respuesta promedio: 2.7 horas
• Puntuación de satisfacción del cliente: 88%
• Tasa de resolución de quejas: 94%

Características de la aplicación móvil interactiva

Estadísticas de uso de la aplicación móvil:

Métrico	Valor
Descargas totales de aplicaciones	425,000
Usuarios activos mensuales	285,000
Porcentaje de pedido en línea	38%

Portillo's Inc. (PTLO) - Modelo de negocio: canales

Ubicaciones de restaurantes físicos

A partir del cuarto trimestre de 2023, Portillo's opera 71 restaurantes en 9 estados, con una concentración en Illinois, Arizona y Texas.

Estado	Número de ubicaciones
Illinois	37
Arizona	12
Texas	8
Otros estados	14

Aplicación de pedidos móviles

La plataforma de pedidos digitales de Portillo generó $ 84.7 millones en ventas digitales en 2022, lo que representa el 23.4% de las ventas totales de restaurantes.

• Aplicación móvil disponible en plataformas iOS y Android
• Las características incluyen el pedido por delante, la recogida y las opciones de entrega
• Programa de lealtad integrado con recompensas digitales

Plataformas de entrega de terceros

Portillo se asocia con múltiples servicios de entrega de terceros, que incluyen:

• Doordash
• Uber come
• Grubhub

Plataforma de entrega	Contribución de ventas estimada
Doordash	45% de la entrega de terceros
Uber come	35% de la entrega de terceros
Grubhub	20% de la entrega de terceros

Sitio web de la empresa

El sitio web de Portillo (Portillos.com) procesa aproximadamente el 12% de las ventas digitales totales, con un tráfico mensual de 425,000 visitantes únicos.

Plataformas de redes sociales

Métricas de compromiso de las redes sociales a partir de diciembre de 2023:

Plataforma	Seguidores/suscriptores
Instagram	238,000
Facebook	312,000
Tiktok	87,000

Portillo's Inc. (PTLO) - Modelo de negocio: segmentos de clientes

Millennial y Gen Z Fast-Casual Dining Enthusiasts

Según el informe anual de 2022 de Portillo, este grupo demográfico representa el 42% de su base de clientes. Gasto promedio por visita: $ 15.40.

Grupo de edad	Porcentaje de la base de clientes	Gasto promedio
Millennials (25-40)	28%	$16.20
Gen Z (18-24)	14%	$14.60

Residentes del área de Chicago y amantes de la comida regionales

A partir del cuarto trimestre de 2023, el 67% de las 68 ubicaciones de Portillo se concentran en Illinois. Tasa regional de penetración del cliente: 58%.

• Cuota de mercado del área metropolitana de Chicago: 45%
• Tasa de lealtad regional del cliente del Medio Oeste: 72%

Fans de deportes y asistentes al evento

La ubicación estratégica de Portillo cerca de los lugares deportivos genera $ 22.3 millones en ingresos anuales de este segmento.

Mercado deportivo	Ingresos anuales	Ventas promedio del día del evento
Lugares deportivos de Chicago	$ 15.6 millones	$ 4,200 por evento
Mercados deportivos regionales	$ 6.7 millones	$ 2,800 por evento

Multitudes de almuerzo corporativo

La catering corporativo representa el 18% de los ingresos totales de Portillo, con un valor de pedido promedio de $ 275.

• Pedidos semanales de catering corporativo: 3.200
• Tasa promedio de retención de clientes corporativos: 64%

Mercado de comedor familiar

El segmento familiar representa el 35% de la base de clientes de Portillo, con un gasto promedio de la visita familiar de $ 42.50.

Tamaño familiar	Porcentaje de segmento familiar	Gasto promedio
2-3 miembros	22%	$35.60
4-5 miembros	13%	$49.30

Portillo's Inc. (PTLO) - Modelo de negocio: Estructura de costos

Costos de ingrediente y suministro de alimentos

A partir del cuarto trimestre de 2023, Portillo reportó alimentos y costos de envasado en $ 53.4 millones, lo que representa el 28.7% de las ventas totales de restaurantes. La Compañía obtiene ingredientes de varios proveedores con gastos anuales de adquisición estimados en:

Categoría de ingredientes	Costo anual	Porcentaje de costos de alimentos
Proteínas de carne	$ 18.2 millones	34%
Producir	$ 7.6 millones	14%
Pan y bollos	$ 5.9 millones	11%
Materiales de embalaje	$ 4.5 millones	8%

Salarios laborales y de empleados

Los costos laborales para Portillo's en 2023 totalizaron $ 129.6 millones, representando aproximadamente el 37.2% de las ventas totales de restaurantes. El desglose salarial incluye:

• Salario promedio por hora para el personal del restaurante: $ 15.25
• Salarios de gestión: $ 3.2 millones anuales
• Empleados totales a tiempo completo: 4.200
• Total de empleados a tiempo parcial: 6.800

Alquiler de restaurantes y mantenimiento de la propiedad

Los gastos de ocupación para 2023 fueron de $ 42.3 millones, lo que representa el 12.1% de las ventas totales de restaurantes. El desglose incluye:

Categoría de gastos	Costo anual
Pagos de arrendamiento	$ 31.5 millones
Mantenimiento de la propiedad	$ 6.8 millones
Utilidades	$ 4 millones

Gastos de marketing y publicidad

Los gastos de marketing para 2023 alcanzaron los $ 22.7 millones, que es el 6.5% de las ventas totales de restaurantes. La asignación incluye:

• Marketing digital: $ 9.6 millones
• Publicidad tradicional: $ 7.3 millones
• Campañas de redes sociales: $ 3.8 millones
• Eventos promocionales: $ 2 millones

Inversiones en tecnología e plataforma digital

Las inversiones tecnológicas para 2023 totalizaron $ 15.4 millones, lo que representa el 4.4% de las ventas totales de restaurantes. Desglose de gastos:

Categoría de tecnología	Inversión anual
Plataforma de pedido digital	$ 6.2 millones
Sistemas de punto de venta	$ 4.1 millones
Ciberseguridad	$ 2.7 millones
Desarrollo de aplicaciones móviles	$ 2.4 millones

Portillo's Inc. (PTLO) - Modelo de negocios: flujos de ingresos

Ventas de restaurantes de cena

Para el año fiscal 2023, Portillo reportó ventas totales de restaurantes de $ 610.1 millones. El volumen de unidad promedio (AUV) por restaurante fue de aproximadamente $ 4.7 millones.

Métrico	Valor
Ventas totales de restaurantes (2023)	$ 610.1 millones
Volumen de unidad promedio (AUV)	$ 4.7 millones
Número de restaurantes (cuarto trimestre 2023)	71 ubicaciones

Ingresos de pedidos digitales y móviles

Ventas digitales representadas 26.1% de ventas totales en 2023, ascendiendo a aproximadamente $ 159.2 millones.

• Las plataformas de pedido digital incluyen aplicaciones móviles y pedidos de sitios web
• Tasa de crecimiento de ventas digitales del 14,3% en comparación con el año anterior

Servicios de catering

Los ingresos de catering contribuyeron aproximadamente $ 45.3 millones al flujo de ingresos total en 2023.

Segmento de catering	Ganancia
Ingresos totales de catering (2023)	$ 45.3 millones
Porcentaje de ingresos totales	7.4%

Venta de mercancías

Ventas de mercancías generadas $ 6.2 millones en ingresos durante 2023.

Potencial de franquicia y licencia

A partir del cuarto trimestre de 2023, Portillo tenía 71 restaurantes propiedad de la compañía con potencial para futuras franquicias. Los planes de desarrollo de franquicias se encuentran en las primeras etapas.

Franquicia métrica	Valor
Restaurantes propiedad de la empresa	71
Posibles ubicaciones de franquicias	TBD

Portillo's Inc. (PTLO) - Canvas Business Model: Value Propositions

Portillo's Inc. delivers a value proposition centered on its deeply rooted Chicago heritage. You get authentic, iconic Chicago-style food, which means the Italian beef sandwiches, Chicago-style hot dogs, and the chocolate cake are the core offering. This commitment to regional authenticity is a primary draw for both long-time fans and new customers seeking a genuine taste of Chicago.

The experience is positioned as high-quality, craveable food delivered at a fast-casual price point. Management has used menu price adjustments, including increases of 1.5% in January, 1% in April, and 0.7% in late June, aiming for an effective price increase of approximately 3.3% in Q3 2025 to manage costs. Still, the brand maintains its appeal by offering these distinct items in a setting that is deliberately distinctive, nostalgic, and fun, aiming for a unique in-store dining atmosphere.

Operational efficiency is a key value driver, supporting the fast-casual model. Portillo's Inc. is actively expanding its use of technology to streamline service. Kiosk adoption in-restaurant now exceeds 33% usage, which clearly benefits the average check and mix. Furthermore, the company is testing and expanding AI powered drive-thru technology, which operators report is getting strong feedback. The Portillo's Perks loyalty program is also a significant part of this, boasting over 1,900,000 members as of mid-2025, used for promotional engagement and customer acquisition.

The focus on disciplined development and operational scalability underpins the unit economics. The company is working to reduce the capital required to open new stores, with build costs for 2025 units tracking between $5.2 million and $5.5 million. While the Average Unit Volume (AUV) saw a slight dip to $8.6 million as of Q3 2025 from $8.9 million the prior year, the focus remains on optimizing these new locations. The Restaurant-Level Adjusted EBITDA Margin for the first half of 2025 was 23.6% in Q2, though it compressed to 20.2% by Q3 2025, with the full-year projection set in the 21.0% to 21.5% range.

Here's a quick look at the unit-level financial metrics as of late 2025:

Metric	Value (Latest Reported/Projected)
Average Unit Volume (AUV)	$8.6 million (Q3 2025)
New Unit Build Cost Range (2025)	$5.2 million - $5.5 million
Restaurant-Level Adjusted EBITDA Margin (Projected FY 2025)	21.0% to 21.5%
Restaurant-Level Adjusted EBITDA Margin (Q3 2025)	20.2%
Total Restaurants (as of Nov 2025)	99

The company is actively managing inflation, with estimated labor inflation at 3% to 4% and commodity inflation projected between 3% to 5% for the full fiscal year 2025.

Portillo's Inc. (PTLO) - Canvas Business Model: Customer Relationships

Portillo's Inc. focuses its customer relationships strategy on digital integration, speed of service, and personalized engagement to drive frequency and check size.

Portillo's Perks loyalty program for personalized engagement and retention

The Portillo's Perks program is an app-less loyalty system designed to reduce friction by living in a participant's digital wallet, tracking visits, and using transaction information to deliver specialized communications based on earned recognition badges. The brand initially targeted 1.5-1.7 million membership sign-ups by mid-summer 2025. By the second quarter of 2025, the program had grown to over 1.9 million members. The CFO indicated plans to shift from testing broader offers in Q2 2025 to implementing targeted offers in the back half of the year to better leverage consumer data. New Perks members receive a tangible incentive: a free large French fry with their first order of $5 or more.

Here's a look at key metrics related to customer traffic and loyalty program engagement through the first three quarters of 2025:

Metric Period	Same-Restaurant Sales Change	Transaction Change	Average Check Change
Q1 2025	+1.8%	-3.1%	+4.9%
Q2 2025	+0.7%	-1.4%	+2.1%
Q3 2025	-0.8%	-2.2%	+1.4%

The company's strategy relies on increasing the average check, as evidenced by menu price increases of approximately 1.5% in January 2025, 1.0% in April 2025, and 0.7% in June 2025, to offset commodity inflation which was forecast at 3% to 5% for the year.

High-touch, energetic, and fast in-store guest experience

Portillo's Inc. actively works on operational efficiency to enhance the in-store experience, particularly in the drive-thru channel. The company has a stated goal of cutting 45 seconds from drive-thru times. Management noted that every 30-second improvement in drive-thru throughput translates directly to a percentage point increase in comparable sales. The chain continues to invest in kiosks, which have paid off, and is rolling out AI-powered drive-thru technology. The company opened four new restaurants in the third quarter of 2025, bringing the total unit count to 100 as of Q3 2025, with 12 total new restaurants planned for the full year 2025.

Digital communication via email/app for targeted offers

Digital communication is primarily channeled through the Portillo's Perks program, which uses a digital card in the mobile wallet. Members can view their personalized offers via the email tied to their account. The shift to targeted offers in the second half of 2025 is intended to use collected data for more relevant marketing. For example, the December 2025 'Season of Surprises' promotion offered a free small Candy Cane shake with a minimum $5 purchase through December 7, 2025, exclusively to Perks members.

Customer service to manage catering and bulk orders

Portillo's Inc. supports catering and bulk orders through dedicated customer service channels. The company's overall revenue for the trailing twelve months ending September 28, 2025, was $730.93 million. The focus on operational improvements and efficiency, such as the drive-thru time reduction goal, supports the capacity to handle high-volume orders efficiently across all channels.

Portillo's Inc. (PTLO) - Canvas Business Model: Channels

The Channels block for Portillo's Inc. centers on a multi-pronged approach to reach its customer base, blending traditional high-volume physical sites with modern digital fulfillment options.

Physical restaurant locations remain the core channel, featuring several formats designed for different real estate opportunities. The brand operates both in-line formats and free-standing units, with the latter often including a double drive-thru capability, a feature of the newer Restaurant of the Future design. As of late 2025, Portillo's boasts a total of over 100 restaurants nationwide, with 95 locations reported in the U.S.. Illinois maintains the largest concentration, accounting for over 52% of the total, or 49 restaurants. Texas is a key growth market, having 11 locations as of late 2025.

The physical channel is evolving with new prototypes. The standard full-scale unit can be over 11,300 square feet, but newer, smaller builds under the Restaurant of the Future design are accelerating growth, such as a 7,700 square foot unit in Allen, Texas.

Metric	Value (As of Late 2025)	Context/Format Detail
Total U.S. Locations	Over 100 (or 95 reported)	Includes various formats like in-line and free-standing with drive-thru
Illinois Locations	49 (Approx. 52% of total)	Stronghold in the Midwest region
Texas Locations	11	Key market for recent expansion
New Units Opened in FY2025 (as of Q3)	4	Contributed to the 1.8% total revenue increase in Q3
Projected FY2026 New Units	8	Net build cost average projected to be less than $5 million per unit

Digital channels are critical for capturing off-premise demand, primarily through the dedicated Portillo's app and the company website for ordering. While specific digital sales percentages aren't public, the overall channel performance is reflected in the average check size, which increased by 1.4% in Q3 2025, partially offsetting a 2.2% drop in guest transactions. The company is actively managing technology risks associated with its digital ordering and payment platforms.

Third-party delivery services supplement the digital ordering infrastructure, facilitating off-premise sales across the existing footprint. The reliance on these services is managed alongside the internal digital platforms, as the company navigates the competitive landscape.

Catering and bulk ordering for events and groups is an established, though less quantified, channel. The menu supports large orders, featuring items like Italian beef sandwiches and chocolate cake, which are suitable for group consumption at events. The overall TTM revenue for Portillo's Inc. as of late 2025 was approximately $731M.

Future high-traffic locations represent a strategic channel expansion into unique, high-visibility venues. Portillo's is debuting its first airport location at DFW Airport in Terminal B, planned for 2026. This location will utilize a new small, dine-in only format, designed for efficiency with multiple ordering touchpoints and seating for more than 50 guests. This airport concept, along with a similar format in The Villages, Florida, is a milestone in expanding reach.

• DFW Airport location is slated to open in 2026.
• The new airport format will feature self-order kiosks and a Grab & Go area for travelers.
• The company expects to open 8 new restaurants in fiscal 2026, including the DFW airport unit.

Finance: review the capital allocation plan for the 8 expected 2026 builds by next Tuesday.

Portillo's Inc. (PTLO) - Canvas Business Model: Customer Segments

You're looking at the core groups Portillo's Inc. is targeting as they push growth beyond their home turf. Honestly, understanding these segments is key to seeing where the near-term revenue is coming from versus where the long-term bets are placed.

Loyal, established Chicagoland customer base

This is the bedrock, the folks who grew up on the Italian beef and chocolate cake. They are deeply entrenched, but even they are showing signs of pressure in this economic climate. The core market still represents the largest concentration of Portillo's sites, with 49 locations in Illinois alone. This concentration translates to roughly one Portillo's for every 258,610 residents in Illinois.

However, the established base isn't immune to the broader traffic challenges. For the third quarter ended September 28, 2025, same-restaurant sales saw a decrease of 0.8%. This dip was driven by a 2.2% drop in guest transactions. Management has updated the fiscal 2025 forecast to reflect a full-year same-restaurant sales decline between 1% and 1.5%.

Here's a quick look at the performance indicators for this segment:

• Comparable Restaurant Base for Q2 2025: 75 restaurants.
• Q3 2025 Same-Restaurant Sales Change: -0.8%.
• Q3 2025 Guest Transaction Change: -2.2%.
• Projected Full Year 2025 Same-Restaurant Sales Change: Decline of 1% to 1.5%.

New customers in expansion markets (Sunbelt, e.g., Texas, Florida, Georgia)

Portillo's Inc. is aggressively pursuing growth outside of the Midwest, betting on Sunbelt demographics. The strategy involves a measured pace, but the commitment to new markets remains clear. As of late 2025, the company is actively building out its presence in these regions.

The momentum in new store openings is what's currently driving top-line growth, even as comparable sales soften. For instance, restaurants opened in fiscal 2024 contributed $9.4 million to Q3 2025 revenue. The company opened four new restaurants in Q3 2025 across Florida and Texas. Furthermore, four more openings were planned for Q4 2025, including the brand's entry into the Atlanta, Georgia market. The total restaurant count reached 100 units last month.

Here's the breakdown of the expansion footprint as of the latest data:

Market Metric	Data Point	Context/Date
Total U.S. Locations (Approximate)	100 units	As of late 2025
Texas Locations	11	As of 2025
New Restaurants Opened in Q3 2025	4	Across Florida and Texas
Planned New Restaurants in Q4 2025	4	Mostly Sunbelt, including first Georgia location
Total New Restaurants Planned for FY 2025	8	Updated full-year target

Fast-casual diners seeking high-quality, differentiated food

This segment values the unique, craveable menu-the Chicago-style staples-and is willing to pay a bit more for that quality. You see this reflected in the average check growth, which is helping offset transaction declines. The company has used menu price adjustments to manage inflationary pressures, which directly impacts what this customer pays.

In Q2 2025, the same-restaurant sales increase of +0.7% was powered by an approximate 3.4% increase in the average check. This was achieved through menu price increases totaling approximately 3.3% across three incremental adjustments in Q3. To be fair, this higher check was partially offset by a 1.3% decline in product mix.

Digital-first customers utilizing delivery and mobile ordering

These customers prioritize convenience and technology integration. Portillo's Inc. is clearly investing here to capture off-premise sales, which is crucial in a tough traffic environment. The use of self-service kiosks is a key indicator of this segment's adoption of digital channels.

The adoption rate for in-store technology is quite high. Self-service kiosks are now used by 33% of guests. The company also has a long-standing direct-to-consumer shipping channel, Shop & Ship, which has been operating for over 20+ years.

High-traffic consumers in commercial and travel hubs

This group is captured opportunistically, often when they are traveling or in high-density commercial areas. The long-term plan definitely includes these locations, which serve as high-volume, high-visibility touchpoints for the brand outside of traditional suburban sites. Management has specifically mentioned plans to capture this base, projecting over 920 potential total units, including university campuses and airports.

The company is testing new formats to serve these consumers, such as its first in-line, walk-up restaurant format opened in Q3 2025. The overall revenue for Q3 2025 was $181.4 million.

Finance: draft 13-week cash view by Friday.

Portillo's Inc. (PTLO) - Canvas Business Model: Cost Structure

You're looking at the hard numbers driving Portillo's Inc.'s operational expenses as of late 2025, so let's lay out the key cost components.

The primary variable cost remains the cost of goods sold, which for the second quarter ended June 29, 2025, stood at 33.8% of revenues. This was an improvement from 33.9% in the prior year, even with commodity prices increasing by 1.9% during that quarter, with beef being a noted pressure point.

Labor costs are a significant fixed/semi-fixed component, facing ongoing wage pressure. Labor as a percentage of revenues rose to 25.7% in Q2 2025, up from 25.5% the year before. Management continues to estimate full-year labor inflation in the range of 3% to 4% for fiscal 2025. To be fair, hourly labor rates specifically saw an increase of 3.3% in the third quarter of 2025.

General and Administrative (G&A) expenses have been subject to revision as the company resets its strategy. The revised guidance for fiscal year 2025 G&A expense is set between $76 million to $79 million. For context, G&A in the third quarter of 2025 reached $20 million, representing 11% of that quarter's revenue.

Capital expenditures are heavily weighted toward expansion, though the cost per unit is being managed down. Capital expenditures for new unit builds in 2025 were targeted in the range of $5.2 million-$5.5 million per new restaurant, a reduction from 2024 costs. Looking ahead to 2026, the projected net build cost average is even lower, at less than $5 million per unit.

Fixed costs related to the physical footprint are also material, especially given the large-format nature of many Portillo's restaurants. Here's a quick look at the related operating expenses from Q2 2025:

Expense Category	Q2 2025 as % of Revenue	Year-over-Year Change in Expense ($)
Occupancy Expenses	Increased 0.2% from prior year (as % of revenue)	Increased $800,000 or 8.2%
Other Operating Expenses (Includes Utilities)	11.6%	Increased $2 million or 9.8%

The increase in Other Operating Expenses was driven by new restaurant openings, plus higher utility and repair/maintenance costs. The pressure on margins is clear when you see how these costs stack up against restaurant-level adjusted EBITDA margin, which was 23.6% in Q2 2025, down 90 basis points from the prior year.

The cost structure is also influenced by strategic spending in other areas:

• Commodity inflation forecast for fiscal 2025 is 3% to 5%.
• Total revenue growth guidance for fiscal 2025 was revised to 5% to 7%.
• Adjusted EBITDA growth guidance for fiscal 2025 was revised to flat to low single digits.

Finance: draft 13-week cash view by Friday.

Portillo's Inc. (PTLO) - Canvas Business Model: Revenue Streams

You're looking at the core ways Portillo's Inc. brings in money as of late 2025. It's a mix of the tried-and-true restaurant experience and newer digital avenues, all while managing the impact of inflation on what they charge.

The primary revenue driver is restaurant sales, which covers both in-store dining and the drive-thru. For the third quarter of fiscal year 2025, total revenue hit $181.4 million, representing a 1.8% increase year-over-year. This growth was heavily reliant on new locations, as non-comparable restaurants contributed $5.6 million to the total revenue increase for the quarter.

The performance of established locations, which make up the comparable restaurant base (76 restaurants for Q3 2025), showed a slight contraction. Same-restaurant sales decreased by 0.8% in Q3 2025. This decline was due to a 2.2% drop in customer transactions, which was partially offset by an increase in the average check of 1.4%.

Menu price increases are a key lever to boost the average check. The menu pricing actions contributed approximately 3.2% to the average check in the third quarter. This pricing power was partially offset by a negative 1.8% impact from product mix changes. Management indicated they do not foresee taking additional pricing actions for the remainder of the year, with the effective price increase for the fourth quarter estimated to be in the range of 2.5% to 3%.

Digital sales, encompassing the app, website, and third-party delivery, are an important component of the overall revenue mix, though specific revenue percentages aren't broken out in the latest reports. The company is focusing on leveraging its Portillo's Perks loyalty program and expanding reach through affiliate marketing and delivery partners to drive this channel.

Here's a quick look at the Q3 2025 revenue components and the full-year target:

Revenue Component/Metric	Amount/Percentage
Q3 2025 Total Revenue	$181.4 million
Revenue from Non-Comparable Restaurants (Q3 2025)	$5.6 million
Same-Restaurant Sales Change (Q3 2025)	-0.8%
Menu Price Contribution to Average Check (Q3 2025)	3.2%
Estimated Effective Price Increase (Q4 2025)	2.5% to 3%
Full Fiscal Year 2025 Revenue Guidance	$730-$733 million

Catering and bulk sales of key menu items are also a recognized revenue stream, with management highlighting plans to expand reach through these channels as part of their strategic reset. This is a way to capture larger orders outside the typical transaction flow.