LOS ANGELES, Oct. 23, 2024 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Johnny Rockets, Twin Peaks, Fazoli’s and 13 other restaurant concepts, today announced that the Company will host a conference call to review its third quarter 2024 financial results on Wednesday, October 30, 2024 at 5:00 PM ET. A press release with third quarte ...

Sweet Sister Franchises Notch Four Peach State Openings in 2024 LOS ANGELES, Oct. 08, 2024 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Great American Cookies, Marble Slab Creamery and 16 other restaurant concepts, announces the opening of four new Great American Cookies and Marble Slab Creamery locations in Georgia. The latest growth is a testament to customer desire for the two brands' complementary treats and FAT Brands' commitment to growth in the state, which is als ...

FAT Brands Inc. (FAT) introduced a new co-branded online ordering system for Great American Cookies and Marble Slab Creamery, featuring an innovative 3D cookie cake builder. This system is developed in partnership with Rapturous, the digital restaurant transformation arm of 3 Owl and Olo Inc. (OLO) — a leading technology provider for restaurants. The new user experience integrates both brands into a unified experience, improving the interaction for customers at co-branded and individual stores. This platfor ...

Original Frozen Slab Franchise Releases Their Take on America's Favorite Seasonal Flavor – Completely Customizable with Unlimited Mix-Ins LOS ANGELES, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Marble Slab Creamery, FAT Brands' small-batch ice cream franchise that never fails to dream up the ultimate flavor combinations, is spicing things up this fall with the release of Pumpkin Spice Latte ice cream. Made with real pumpkin, rich coffee and a dash of cinnamon, the new creamy treat is sure to spice up your fall! The ...

NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against FAT Brands Inc. (NASDAQ: FAT) on behalf of long-term stockholders following a class action complaint that was filed against FAT Brands on June 7, 2024 with a Class Period from March 24, 2022 and May 10, 2024. Our investigation concerns whether the board of directors of FAT Brands have breached their fiduciary duties to the company. According ...

Local Wing Chain and Radio Personality to Drum up Champion in Support of Arizona Humane Society LOS ANGELES, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Native Grill & Wings, known for its signature wings and vibrant atmosphere, is launching the ultimate wing-eating showdown, Holmberg's "Handle the Heat," with beloved Arizona DJ and Radio Host Holmberg. Starting, Aug. 8 and running through Aug. 28, the locally born chain will host weekly challenges across Phoenix area Native Grill & Wings locations where locals can s ...

Local Wing Chain and Radio Personality to Drum up Champion in Support of Arizona Humane Society LOS ANGELES, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Native Grill & Wings, known for its signature wings and vibrant atmosphere, is launching the ultimate wing-eating showdown, Holmberg's "Handle the Heat," with beloved Arizona DJ and Radio Host Holmberg. Starting, Aug. 8 and running through Aug. 28, the locally born chain will host weekly challenges across Phoenix area Native Grill & Wings locations where locals can s ...

Nostalgic Shake Digs up Sweet Memories and TROLLI® SOUR BRITE CRAWLERS ® LOS ANGELES, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Johnny Rockets, the timeless, all-American chain owned by FAT Brands Inc., is digging up a sweet memory with its latest shake flavor! Featuring TROLLI® SOUR BRITE CRAWLERS®, the all-new Dirt Cup Shake is sure to satisfy your sweet tooth and sense of adventure! The new Dirt Cup Shake starts with Johnny Rockets' hand-spun Chocolate Shake and is then topped with OREO® Cookie crumbles and tang ...

If you suffered losses exceeding $75,000 in FAT Brands between March 24, 2022 and May 10, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/FAT. NEW YORK, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against FAT Brands Inc. ("FAT Brands" or the "Company") (NASDA ...

Financial Data and Key Metrics Changes - Total revenue increased by 42.4% to $152 million compared to $106.8 million in the prior year quarter, driven by the acquisition of Smoky Bones [4][22] - Adjusted EBITDA was $15.7 million, down from $23.1 million in the same quarter last year, but increased by 30.8% when excluding employee retention tax credits [5][25] - Net loss was $39.4 million or $2.43 per diluted share, compared to a net loss of $7.1 million or $0.53 per diluted share in the prior year quarter [23][24] Business Line Data and Key Metrics Changes - System-wide sales grew to $614.7 million, a 7.3% increase compared to the prior year quarter [4] - The franchisee base consisted of approximately 790 franchisees operating around 2,100 restaurants, with 24 new locations opened in Q2 2024 [7] - Twin Peaks is the fastest-growing concept with average unit volumes at company-operated locations of $6 million, with some locations in Florida generating sales between $9 million and $12 million [9] Market Data and Key Metrics Changes - Round Table Pizza opened a second location in San Antonio, Texas, as part of a strategic partnership to establish 40 locations across the state [12] - Fazoli's brand opened its second location in Tampa, Florida, bringing its total presence in the state to six restaurants [12] - Same-store sales were down only 1.6%, maintaining flat performance sequentially versus the first quarter [33] Company Strategy and Development Direction - The company aims to open 120 new units in total for the year, comparable to the number of new stores opened in 2023 [7] - The development pipeline includes over 1,100 additional units slated to open in the coming years, potentially generating $50 million to $60 million in incremental adjusted EBITDA [8] - The company is assessing several new potential acquisitions to add strategic value, focusing on scalable and synergistic brands [18][19] Management's Comments on Operating Environment and Future Outlook - Management noted that the refinancing of Twin Peaks and the potential public listing could significantly reduce debt and interest expenses [27][28] - The company is optimistic about the second half of the year, particularly for the polished casual segment, as they anticipate improved performance post-summer [36] - Management highlighted that they are seeing more acquisition opportunities with reasonable seller expectations in the current market [31] Other Important Information - The company was recognized on Time Magazine's and Statista's America's best midsized companies of 2024 list, factoring in revenue growth, employee satisfaction, and sustainability transparency [6] - The Georgia-based manufacturing facility contributed $3.8 million to adjusted EBITDA, with plans for expansion to boost capacity [19][20] - The FAT Brand Foundation made 36 grants through June, surpassing the total number of grants awarded in the full year of 2023 [21] Q&A Session Summary Question: When will revenue growth exceed expense growth? - Management indicated that several factors contribute to the net loss, including interest expense and tax credits, and they expect refinancing and new store builds to help improve the situation [26][27] Question: What caused the slowdown in store openings? - Management noted that franchisees have been slower in execution but are on track to meet the annual target of 120 new openings [29] Question: Are there new acquisition opportunities? - Management confirmed that they are seeing more deals than ever and sellers are more open to reasonable pricing [31] Question: What factors contributed to maintaining same-store sales? - Management highlighted strong performance in the burger, fast casual, and snack segments, with specific brands like Ponderosa and Bonanza Steakhouse showing mid to high single-digit growth [34][35] Question: How is the conversion of Smoky Bones to Twin Peaks progressing? - Management expressed confidence in the conversion process, with the first location expected to be operational in under nine months [38][39]