Core Insights - GEN Restaurant Group, Inc. is expanding its operations by opening two new locations in Edison, New Jersey, and Orlando, Florida, as part of its national expansion strategy [1][2]. Expansion Strategy - The CEO of GEN, David Kim, expressed satisfaction with the progress of the company's national expansion plans, highlighting the importance of reaching new audiences in New Jersey and Florida [2]. - The Edison location is strategically chosen for its cultural richness and culinary scene, aligning with GEN's goal to introduce its "grill at your table" concept in key markets [2]. - Orlando's diverse population and status as a tourist destination make it an ideal market for GEN, aiming to attract both locals and visitors seeking unique dining experiences [3]. Location Details - The Edison, New Jersey location is situated in Festival Plaza and operates from 11:00 a.m. to 10:30 p.m. Monday to Thursday, and 11:00 a.m. to 11:00 p.m. Friday to Sunday [4]. - The Orlando, Florida location is located in Waterford Lakes Town Center, with operating hours from 11:00 a.m. to 10:30 p.m. Sunday to Thursday, and 11:00 a.m. to 11:30 p.m. Friday to Saturday [4]. Company Overview - GEN Korean BBQ is one of the largest Asian casual dining restaurant concepts in the U.S., founded in 2011, and has grown to over 40 company-owned locations [6]. - The restaurant offers a unique dining experience where guests prepare their meals on embedded grills, featuring a menu that includes traditional Korean and Korean-American dishes [6].

Leadership Changes - Co-Founder Jae Chang has stepped down as Co-CEO effective January 8, 2025, but will remain on the Company's board [1] - David Kim, the Chairman and Co-CEO, is now the sole CEO of the Company [1] Company Overview - GEN Korean BBQ is one of the largest Asian casual dining restaurant concepts in the United States, founded in 2011 [3] - The brand has grown to over 40 company-owned locations, offering a unique dining experience where guests prepare meals on embedded grills [3] - The menu features traditional Korean and Korean-American food, including high-quality meats, poultry, seafood, and mixed vegetables [3] Future Outlook - David Kim expressed confidence in continuing the growth strategy and building upon the foundation laid by Jae Chang [2]

CERRITOS, Calif., July 25, 2024 (GLOBE NEWSWIRE) -- GEN Restaurant Group, Inc. ("GEN" or the "Company") (NASDAQ:GENK), owner of GEN Korean BBQ, a fast-growing casual dining concept with an extensive menu and signature "grill at your table" experience, has appointed David Park to the board of directors and to serve on the audit committee of the board, effective July 24, 2024. With Mr. Park's addition, GEN has expanded the board to five total directors with three serving independently. Mr. Park brings to the ...

The new Premium Menu featuring high-quality, top shelf proteins is available for an extra price per person or a la carte, allowing diners to choose from a wide variety of delectable dishes including beef, pork, chicken and seafood options while enjoying the engaging and interactive experience of being their own chef. For more information, visit GenKoreanBBQ.com and follow the brand on Facebook, Instagram, LinkedIn, and TikTok. Premium Marinated Long Bone Short Rib Steak Premium Wagyu Premium Marbling Center ...

GEN Restaurant Group, Inc. (NASDAQ:GENK) Q1 2024 Earnings Call Transcript May 14, 2024 8:00 AM ET Company Participants Thomas Croal - CFO David Kim - Co-CEO Conference Call Participants Todd Brooks - Benchmark Company George Kelly - ROTH Capital Partners Operator Good afternoon, and welcome to the GEN Restaurant Group First Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator instructions] After today’s presentation, there will be an opportunity to ask questions. [O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Exact Name of Registrant as Specified in its Charter) | Delaware | 87-3424935 | | --- | --- | | ( State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 11480 South Street Suite 205 | | | Cerritos, CA | 90703 | | (Address of principal executive offices) | (Zip Code) | | | Registrant's telephone number, including area code: (562) 356-9929 | (Mark One) ☒ QUARTERLY REPORT PUR ...

GEN Restaurant Group, Inc. Announces First Quarter 2024 Financial Results Cerritos, CA, May 14, 2024 - GEN Restaurant Group, Inc. ("GEN" or the "Company"), owner of GEN Korean BBQ, a fast-growing cook-it-yourself casual dining concept, is announcing financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial and Recent Operational Highlights (1) Adjusted EBITDA and restaurant-level adjusted EBITDA are non-GAAP measures. For reconciliations of adjusted EBITDA and restaurant-lev ...

Michael Burry, a renowned trader and investor known for predicting the 2008 financial crisis, is highly regarded for his strategic acquisitions and sales based on comprehensive data analysis. Recently, he acquired GEN Restaurant Group (NASDAQ: GENK), a move that has proven to be exceptionally successful and one which was previously described as ‘a hidden gem’ stock.Burry purchased 154,142 shares of GENK at an undisclosed date in the previous year’s fourth quarter. Since the disclosure of Scion Asset Managem ...

Key PointsGEN Restaurant Group is investing in growth and widening margin.Insiders are buying the stock and helping it to rebound following mixed results. Famous short-seller Michael Burry bought GENK in Q4 2024, and it is a winner for Scion Asset Management. 5 stocks we like better than GEN Restaurant GroupGEN Restaurant Group NASDAQ: GENK hit the Marketbeat.com radar when insider buying spiked in Q1. As they say, one thing leads to another, such as discovering the company is (at least was) a pick by Scion ...

Financial Data and Key Metrics Changes - The company achieved record revenues of $181 million for the year ended December 31, 2023, representing a growth of 10.6% compared to $163.7 million in 2022 [10][50] - For the fourth quarter, revenue increased by 10.4% to $45.1 million compared to $40.8 million in the fourth quarter of 2022, primarily driven by new unit openings [50] - Same store sales decreased by 1.7% in the fourth quarter of 2023 compared to the same period in 2022 [50] - Adjusted restaurant level EBITDA as a percentage of total revenues was 16% compared to 19.3% in the fourth quarter of 2022 [71] Business Line Data and Key Metrics Changes - The company opened six new restaurants in 2023, including three in the fourth quarter [10][11] - The average unit volume (AUV) for the restaurants opened in 2022 and early 2023 is approximately $5 million, with a payback period of about 2.2 years [6][43] Market Data and Key Metrics Changes - The company plans to open eight new restaurants in 2024, with two already opened in Q1 [5][10] - The company is negotiating 10 additional leases for potential openings in 2025 [12] Company Strategy and Development Direction - The company aims for double-digit revenue growth in 2024, driven by new restaurant openings and operational improvements [4][10] - The company is focused on maintaining a low-cost structure by utilizing a "cook it yourself" model, which reduces labor costs and allows for a smaller kitchen footprint [17] - The company is testing new menu items and drinks, which could enhance guest experience and drive incremental sales [40][74] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth opportunities ahead, citing a solid foundation for creating a great guest experience [49] - The company is aware of potential economic downturns and is cautious about pricing strategies to maintain perceived value [81] - Management noted that labor costs are under pressure due to rising minimum wage rates in certain markets, particularly California [42] Other Important Information - The company has a strong balance sheet with $31 million in cash and cash equivalents and no long-term debt except for $5 million in government-funded loans [53] - General and administrative expenses for the fourth quarter were approximately $4.4 million, higher than previous guidance due to new personnel for restaurant development [20] Q&A Session Summary Question: What is the expected margin improvement for fiscal year '24? - Management indicated that the restaurant level EBITDA margin should approach 18%, up from 16% in the fourth quarter, driven by operational efficiencies [24] Question: Can you clarify the cadence of unit openings? - Management confirmed that the majority of the remaining six new restaurants for 2024 are expected to open in Q4, with some openings potentially in Q2 and Q3 [27][39] Question: How is the company addressing labor cost pressures? - Management acknowledged that while the company is not legally impacted by the upcoming minimum wage increase, surrounding labor market pressures could affect staffing costs [42] Question: What are the expectations for same store sales trends? - Management reported that same store sales are trending positively, moving from double-digit negative to single-digit negative, with some locations turning positive [62] Question: How is the company managing its supply chain and distributor switch? - Management stated that the transition to a new distributor is improving, with ongoing meetings to address delivery issues and stabilize food costs [34]