Jim Cramer Believes Cramer discussed Sweetgreen, Inc. (SG) Is Struggling Due To $15 Meals

We recently published 13 Stocks Jim Cramer Discussed During His Historic Morning Appearance. Sweetgreen, Inc. (NYSE:SG) is one of the stocks Jim Cramer recently discussed.

Cramer discussed Sweetgreen, Inc. (NYSE:SG)’s shares in this episode as part of a conversation commenting on the woes faced by the broader restaurant industry. The CNBC TV host believes that just like its peers, CAVA and Chipotle, Sweetgreen, Inc. (NYSE:SG) is also constrained by high prices. Like its peers, the firm has had to cut guidance. Here are Cramer’s recent thoughts about Sweetgreen, Inc. (NYSE:SG) where he discussed how a $15 price level might explain some of the firm’s woes:

“But the fact is that there are others who are similarly, stock, who have 15 dollar price points. Sweetgreens, I had CAVA, I think it’s a great chain, on, but they have 15 dollar offerings. They are being hurt. That’s the spot where you apparently run in trouble with the consumer.”

Cramer has been discussing Sweetgreen, Inc. (NYSE:SG) in the context of high prices for quite some time. Here are his previous thoughts:

“Sweetgreen and CAVA… Last week… the salad chain announced that its same-store sales had fallen by 7.6%. Wall Street was looking for a 5.5% decline. Sweetgreen lost 20 cents per share. The analysts were only looking for an 11-cent hit.

… To me, it’s pretty clear what’s going on. CAVA and Sweetgreen have to lower their prices or give us a couple of much lower-priced dishes if they want to turn things around. For now, they’re pricing themselves out of this American market. I get why they’re reluctant to cut prices. What business wants to lower margins?… The problem is, unlike McDonald’s, they’re either maybe too proud or too obtuse, I don’t know, to realize that the consumer’s gotten serious about avoiding high-priced foods, including theirs, even though the food is fresh and good.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.