LOS ANGELES, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Twin Hospitality Group Inc. (“Twin Hospitality”) (Nasdaq: TWNP), the parent company of Twin Peaks and Smokey Bones, today announces the appointment of Andrew (Andy) Wiederhorn as Chairman of the Board of Directors, effective immediately. FAT Brands Inc. (NASDAQ: FAT) served as the parent company that executed the strategic spin-out of Twin Hospitality Group earlier this year, separating its Twin Peaks and Smokey Bones restaurant brands into Twin Hospitality Gro ...

Core Viewpoint - Twin Hospitality Group Inc. reported a decrease in total revenue for the fiscal second quarter of 2025, attributed to the closure of underperforming locations and lower same-store sales, while emphasizing a focused strategy for growth and operational improvement [2][6]. Financial Performance - Total revenue decreased by $3.7 million, or 4.1%, to $87.8 million compared to $91.6 million in the same period of 2024 [6][9]. - Loss from operations was $11.6 million, a decline from an income of $1.4 million in the previous year [9]. - Net loss increased to $20.8 million from $10.7 million year-over-year [9]. Cost Management - Food and beverage costs decreased by $1.4 million, or 6.1%, to $21.5 million, representing 27.1% of restaurant sales in 2025, compared to 27.4% in 2024 [7][9]. - Labor and benefits costs decreased by $1.1 million, or 4.3%, to $25.3 million, accounting for 31.8% of restaurant sales in 2025, compared to 31.6% in 2024 [8][9]. Operational Strategy - The company is focused on six priorities to enhance operations, including reducing complexity, improving cost discipline, and streamlining menu offerings [2]. - The development pipeline includes plans for new franchised locations, with a notable conversion from Smokey Bones to Twin Peaks expected to yield higher sales volumes [3]. Key Metrics - Twin Peaks same-store sales declined by 4.4%, while system-wide sales increased by 0.3% [9]. - Adjusted EBITDA for the quarter was $5.2 million, down from $7.0 million in the previous year [9][26].

Group 1 - Twin Hospitality Group Inc. will host a conference call to review its second quarter 2025 financial results on July 30, 2025 at 5:15 PM ET [1] - A press release with the financial results will be issued prior to the conference call [1] - The conference call will be accessible via phone and will also be webcast live from the corporate website [2][3] Group 2 - Twin Hospitality Group Inc. operates the Twin Peaks and Smokey Bones restaurant brands, focusing on redefining the casual dining category [4] - Twin Peaks has 114 locations across 27 states and Mexico, known for its made-from-scratch food and sports bar atmosphere [4] - Smokey Bones operates 51 locations across 16 states, specializing in meat-centric dishes and a full bar [4]

Core Insights - Twin Hospitality Group Inc. reported a 5.4% decrease in total revenue for the fiscal first quarter of 2025, amounting to $87.1 million compared to $92.1 million in the same period of 2024, primarily due to lower same-store sales and the closure of one Smokey Bones location during its conversion to a Twin Peaks lodge [6][8] - The company achieved system-wide sales growth of 5% to $146.3 million, driven by new company-owned restaurants, despite industry-wide challenges [3][8] - Twin Peaks continues to focus on high-margin beverage sales, with alcohol accounting for nearly 50% of restaurant revenue [3] Financial Performance - The company experienced a net loss of $12.1 million in Q1 2025, compared to a net loss of $9.2 million in Q1 2024 [8][26] - Adjusted EBITDA decreased to $5.1 million from $7.1 million year-over-year [8][27] - Restaurant contribution margin fell to 11.2% from 13.6% in the previous year, with Twin Peaks at 16.9% and Smokey Bones at 4.4% [8][29] Operational Highlights - Twin Peaks opened two new lodges, including a second Smokey Bones conversion in Brandon, Florida, and a franchised location in Algonquin, Illinois, bringing the total to 116 locations [3][8] - The company plans to open three to four new units this year, with a robust development pipeline consisting of 100 franchise agreements [3][8] - Labor and benefits costs decreased by 5.1% to $25.3 million, while food and beverage costs decreased by 5.2% to $21.2 million [7][9] Marketing and Advertising - Advertising expenses decreased by 14.9% to $5.1 million, primarily due to lower marketing spend for Smokey Bones [10]

Group 1 - Twin Hospitality Group Inc. will host a conference call to review its first quarter 2025 financial results on May 8, 2025, at 6:00 PM ET [1] - A press release with the financial results will be issued prior to the conference call [1] - The call will be hosted by Ken Kuick, Interim Chief Executive Officer and Chief Financial Officer [2] Group 2 - The conference call can be accessed live via phone or webcast, with a replay available after the call [2][3] - Twin Hospitality operates the Twin Peaks and Smokey Bones restaurant brands, focusing on redefining the casual dining category [4] - Twin Peaks has approximately 116 locations across 27 states and Mexico, known for its made-from-scratch food and sports bar atmosphere [4]