Sweetgreen, the US salad chain popular with office workers, reported a 13 per cent drop in quarterly footfall as customers push back against rising prices. Shares have tumbled 90 per cent from their 2021 IPO peak, reflecting growing concerns about the sustainability of the so-called “slop bowl” phenomenon.

These protein-and-sauce-laden bowls, once a staple of urban lunch routines, now routinely cost nearly $20. Sweetgreen’s revenue growth has matched rising costs since 2023, but that formula appears to be breaking down. Chipotle, the quick-service restaurant leader, saw same-store sales decline 2.5 per cent year over year, with shares falling almost 40 per cent in 2024.

Cava stands out as an exception, with shares jumping 25 per cent after predicting revenue and traffic growth for early 2026. The Mediterranean bowl chain’s enterprise value per location now exceeds Sweetgreen’s by six times. With competition intensifying and price sensitivity rising, salad chains are shifting strategies. Sweetgreen is now promoting $10-15 wraps as it abandons its premium positioning in the battle for office lunch dollars.