Robbins LLP is Investigating Allegations that the Officers and Directors of Portillo’s Inc. (PTLO) Violated Securities Laws and Breached Fiduciary Duties to Shareholders

Robbins LLP is investigating Portillo’s Inc. (NASDAQ: PTLO) to determine whether certain Portillo’s Inc. officers and directors violated securities laws and breached fiduciary duties to shareholders. Portillo’s Inc. owns and operates fast casual restaurants in the United States.

On August 5, 2025, Portillo’s reported second quarter 2025 financial results. Although the Company maintained its target of 12 new restaurants and same-restaurant sales growth of 1% to 3%, Portillo’s reduced its fiscal 2025 revenue growth target and lowered its adjusted EBITDA growth expectations. Portillo’s also disclosed that same-restaurant sales increased only 0.7% during the quarter, while transactions declined 1.4%.

Then, on September 10, 2025, Portillo’s announced a business update and strategic reset. Among other things, Portillo’s disclosed that it expected third quarter same-restaurant sales to decline between 2.0% and 2.5%. The Company also cut its fiscal 2025 unit-growth target from 12 new restaurants to 8 new restaurants, lowered its same-restaurant sales outlook from growth of 1% to 3% to a decline of 1% to 1.5%, reduced its restaurant-level adjusted EBITDA margin target, and lowered its adjusted EBITDA outlook. Following these disclosures, Portillo’s stock price declined sharply.

Then, on May 5, 2026, before the market opened, Portillo’s announced disappointing financial results that included: (i) a same-restaurant sales decrease of 0.1%; (ii) a decrease in operating income of $5.9 million, to just $4.5 million from $10.4 million; (iii) a net loss of $0.5 million; (iv) a restaurant-level adjusted EBITDA of $34.8 million, a decrease of $1.8 million; and (v) adjusted EBITDA of $18.5 million, a decrease of $2.8 million.  Led by a new Chief Executive Officer, the Company announced a review of its priorities in order to “build[] a sustainable, long-term plan.”  Portillo’s also stated, in stark contrast to its previous strategy, that it would only open three new restaurants for the entire remaining fiscal year. On this news, Portillo’s stock price fell $1.23 per share, or 21.5%, from $5.72 per share on May 4, 2026, to close at $4.49 per share on May 6, 2026, on unusually heavy volume.

What Now: If you lost money in your investment of Portillo’s Inc., contact Robbins LLP for more information about your rights.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.