First Watch Restaurant (FWRG) Newsfilter·2025-01-13 12:00Core Insights - First Watch Restaurant Group reported preliminary operational metrics for the fourth quarter and fiscal year ended December 29, 2024, highlighting a focus on growth in the Daytime Dining sector [1][2]. Sales and Traffic Highlights - Same-restaurant sales growth for the fourth quarter was -0.3%, while for the entire fiscal year it was -0.5% [3]. - Same-restaurant traffic growth was recorded at -3.0% for the fourth quarter and -4.0% for the fiscal year [3]. Restaurant Development - In the fourth quarter of 2024, First Watch opened 25 new restaurants, including 23 company-owned and 2 franchise-owned [4]. - For the entire year of 2024, the company opened 50 new restaurants (43 company-owned and 7 franchise-owned) and closed 2 [4]. - As of December 29, 2024, First Watch operated 572 system-wide restaurants, comprising 489 company-owned and 83 franchise-owned across 29 states [5]. Upcoming Events - The CEO and CFO will participate in a fireside chat at the 27th Annual ICR Conference on January 14, 2025 [6]. - The leadership team will also meet with institutional investors at the Jefferies Summit on January 28, 2025 [7]. Company Overview - First Watch is recognized as a leading Daytime Dining concept, serving made-to-order breakfast, brunch, and lunch with a focus on fresh ingredients [11]. - The company has received numerous accolades, including being named the 1 Most Loved Workplace in America for 2024 by Newsweek [11].