Portillo's Inc.

Portillo's Inc. announced plans to open a new flagship restaurant on Chicago's famed Michigan Avenue. This will be the company's first inline location in the city and fourth overall in Chicago, reinforcing its commitment to its hometown. The 5,500-square-foot restaurant, designed for high-foot-traffic, will feature nearly 100 seats and offer dine-in, pick-up, and delivery services, aligning with Portillo's broader growth strategy.

Portillo's announced the grand opening of its first-ever airport location at Dallas Fort Worth International Airport (DFW) on May 27. Located in Terminal B, this new small-format concept is designed for travelers, featuring efficient ordering options like self-order kiosks and a dedicated Grab & Go area. The restaurant will offer its iconic menu for lunch and dinner, along with a new breakfast menu, and will celebrate its opening by offering free Chocolate Cake to the first 200 guests on May 28.

Portillo's Inc. announced the appointment of Pamela Smith as Interim Chief Financial Officer, effective May 20, 2026. Ms. Smith will also serve as the principal accounting officer, taking over from Michelle Hook, who previously announced her departure. The company has entered into an independent contractor agreement with Ms. Smith, compensating her at $14,000 per week, and has initiated a search for a permanent CFO.

Portillo's Inc. reported a net loss of $0.4 million for the first quarter ended March 29, 2026, translating to a basic and diluted EPS of $(0.01). This contrasts with a net income of $3.3 million and EPS of $0.05 in the prior year. Despite a 3.5% increase in net revenues to $182.6 million, operating income significantly declined by 56.7% to $4.5 million, partly due to a substantial increase in pre-opening expenses to $2.6 million. The company also saw an increase in cash from operating activities and is expanding with a new DFW airport joint venture.

Michelle Hook, Chief Financial Officer of Portillo's, announced her departure effective May 5, 2026, with the company initiating a search for her successor. This news accompanies the release of Q1 2026 financial results, which reported a net loss of $0.5 million, a significant decrease from a net income of $4.0 million in the prior year. Despite a 3.5% increase in total revenue to $182.6 million, operating income fell by 56.7% to $4.5 million, and same-restaurant sales decreased by 0.1%.