First Watch Restaurant Group, Inc. Provides Status of Company Restaurants Affected by Hurricane Milton

Core Viewpoint - First Watch Restaurant Group, Inc. has provided updates regarding the impact of Hurricane Milton on its operations, highlighting the temporary closure of restaurants and the ongoing assessment of storm damage and insurance coverage [1][2][4]. Group 1: Hurricane Impact - From October 8 to October 13, 2024, 85 company-owned restaurants were closed for at least one business day due to Hurricane Milton, with 77 reopening by October 14 [2]. - The company is currently determining the reopening timetable for the remaining 8 affected restaurants [2]. - CEO Chris Tomasso expressed gratitude for the safety of team members and their families, noting that nearly all restaurants have resumed operations [3]. Group 2: Insurance and Damage Assessment - First Watch maintains comprehensive insurance coverage, including property, flood, and business interruption, and is working with insurance providers to assess the overall impact from the storms [4]. - The assessment process is expected to take several weeks to complete, determining the extent of applicable coverages [4]. Group 3: Company Overview - First Watch is a leading Daytime Dining concept, operating over 535 restaurants across 29 states, with a focus on made-to-order breakfast, brunch, and lunch [5]. - The company has received numerous accolades, including being named 2024's 1 Most Loved Workplace in America and the top restaurant brand in Yelp's inaugural list of the top 50 most-loved brands in the U.S. [5].