Portillo’s, famous for its Italian beef, Chicago-style hot dogs and decadent cake shakes, is thinking leaner in terms of business expansion.

Facing an increasingly tough restaurant market, the Oak Brook-based chain lowered same-store revenue projections for the year and announced a revised growth strategy focused on its core markets and menu offerings, simplified operations and a slower pace of new openings.

“We want to be driving traffic,” Michael Osanloo, Portillo’s president and CEO, said during a Piper Sandler conference Wednesday. “I also think that this slowdown in order to reset our development is hugely important for us.”

While not quite going back to its humble hot dog stand roots, the revised growth strategy for Portillo’s includes cutting the number of store openings planned

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