Core Viewpoint - Rocky Mountain Chocolate Factory Inc. has appointed Brian Quinn to its Board of Directors, enhancing its leadership with expertise in franchising and brand development [1][2][3]. Company Overview - Rocky Mountain Chocolate Factory, Inc. is a leading franchiser of premium chocolate and confectionary retail stores, known as America's Chocolatier™. The company has been producing a wide range of premium chocolates and confectionery products since 1981 [5]. - The company operates nearly 260 stores across the United States and has several international locations. It is recognized in Entrepreneur's Franchise 500 for 2025 and Franchise Times' Franchise 400 for 2024 [5]. Leadership Appointment - Brian Quinn, the new board member, has extensive experience in brand development, franchise expansion, and operational strategy. He is currently the Chief Development Officer at Sonesta International Hotels, where he significantly contributed to the company's growth from fewer than 100 locations to over 1,000 [2]. - Quinn's previous roles include leadership positions at major hospitality and franchising companies, where he was involved in revenue growth and franchise network development [3]. Strategic Alignment - Quinn's expertise in franchising and market expansion aligns with Rocky Mountain Chocolate's long-term vision to enhance brand presence and stimulate franchise store growth through strategic expansion [2][3].

Core Insights - The Cheez-It® brand is launching a unique promotional event called The Cheez-It® Escape, offering Canadians a free two-night stay to indulge in their love for Cheez-It® crackers [1][5][7] - This initiative aims to celebrate the brand's passionate fanbase and cater to the growing demand for spontaneous travel experiences among Canadians [2][5] Group 1: Event Details - The Cheez-It® Escape will take place at the Drake Motor Inn in Prince Edward County, a popular travel destination known for its scenic beauty [3][9] - The event will run from March 14th to March 22nd, 2025, with bookings available on a first-come, first-served basis [6][7] - Guests will enjoy themed décor, local experiences, and an ample supply of Cheez-It® crackers during their stay [9] Group 2: Company Background - Kellanova, the parent company of the Cheez-It® brand, reported net sales of $13 billion for 2023 and aims to become a leading snacks-led powerhouse [11] - The company has a legacy of over 100 years and operates various well-known brands in the snacking and food industry [11] - Kellanova is committed to promoting sustainable food access and aims to create better days for 4 billion people by 2030 [12]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $1.6 billion, down approximately 10% compared to the same quarter last year, primarily due to lower sales in the retail business and reduced consumer traffic [44][50] - GAAP operating income for Q4 was $20 million, down from $52 million in the prior year, with adjusted operating income at $32 million compared to $57 million [45][50] - Adjusted net income from continuing operations for Q4 was $20 million or $0.66 per diluted share, down from $43 million or $1.13 per diluted share in the prior year [47][50] - Full-year 2024 total company sales were $7 billion, down from $7.8 billion in 2023, with adjusted net income from continuing operations at $114 million or $3.30 per share, compared to $263 million or $6.61 per share in the prior year [49][51] Business Line Data and Key Metrics Changes - ODP Business Solutions revenue for Q4 was $827 million, down 9% year-over-year, influenced by a weak macroeconomic environment and reduced enterprise spending [54] - Office Depot's revenue for Q4 was $784 million, a 13% decline driven by fewer retail stores and lower consumer demand [58] - Veyor's third-party revenue increased by 150% year-over-year, reaching $20 million, while consolidated sales were $1.1 billion [63] Market Data and Key Metrics Changes - The hospitality industry represents a $16 billion market, with ODP securing a key supplier agreement, marking a significant entry into this growing sector [16][28] - The overall addressable market opportunity, including healthcare and other sectors, is estimated to exceed $60 billion [32] Company Strategy and Development Direction - The company is focusing on a B2B pivot, expanding beyond traditional office supplies into higher growth segments, including hospitality and healthcare [12][34] - An "optimized for growth" restructuring plan has been launched to accelerate revenue growth in B2B while reducing reliance on retail operations [34][36] - The company aims to leverage its supply chain and distribution capabilities to capture new business opportunities and enhance customer service [13][29] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in 2024 due to macroeconomic factors and competitive pressures but expressed optimism about future growth opportunities [10][38] - The company expects to see benefits from its B2B initiatives and the hospitality sector, with a focus on long-term sustainable growth [41][78] Other Important Information - The company ended the quarter with total liquidity of $644 million and total debt of $279 million, maintaining a solid balance sheet [66] - Capital expenditures in Q4 were $25 million, flat with the prior year, primarily focused on growth investments [48] Q&A Session Summary Question: Can you discuss the genesis of the hospital deal? - The deal originated from an existing relationship, with the customer recognizing the need for a reliable supply chain, leading to ODP being selected as a preferred partner [81][82] Question: How should we think about the revenue ramp from this deal? - The revenue ramp will be a combination of exclusive products and a "hunting license" approach, with joint sales efforts expected to enhance growth [90] Question: What is the timeframe for the optimize for growth plan? - The plan is a multiyear initiative, expected to take three to four years to realize the projected EBITDA uplift [94] Question: Have you considered strategic alternatives for the retail business? - The company is always exploring ways to maximize shareholder value, including potential strategic alternatives for the retail segment [97] Question: What are your assumptions for growth in the B2B office suppliers market? - The B2B segment is expected to hold steady, with ongoing challenges in the office supply sector making market share difficult to gauge [106] Question: How much exposure does ODP have to the federal government? - ODP does not have significant exposure to federal business at this moment [112]

Q120 Fourth Quarter & Full Year 2024 Financial Results v Safe Harbor Statement The Private Securities Litigation Reform Act of 1995, as amended, (the "Act"), provides protection from liability in private lawsuits for "forward-looking" statements made by public companies under certain circumstances, provided that the public company discloses with specificity the risk factors that may impact its future results. The Company wants to take advantage of the "safe harbor" provisions of the Act. Certain statements ...