Potbelly Tuesday announced that its fourth quarter ER exploded 76% as they benefitted from high sales and kept their costs low. 

Potbelly beats by $0.02, reports revs in-line; guides FY16 EPS above consensus 

• Reports Q4 (Dec) earnings of $0.08 per share, $0.02 better than the Capital IQ Consensus of $0.06; revenues rose 12.1% year/year to $95.1 mln vs the $94.86 mln Capital IQ Consensus.

  • Comps +3.7% vs. ests just above 2%.

• Co issues upside guidance for FY16, sees EPS of $0.36-0.38 vs. $0.33 Capital IQ Consensus Estimate. Company-operated comparable store sales growth of ~3.5% to 4.5%; 55 -- 65 total new shop openings, including 45 -- 50 company-operated shop openings; adj. net income up +20%.

For a few months now the street has been asking who is eating Chipotle's lunch (literally and figuratively) well it appears that PotBelly may be seeing an added benefit from the burrito maker's troubles.