Fat Brands Inc Stock Price, News & Analysis

FAT Brands Inc. announced that its founder and CEO, Andy Wiederhorn, will transition to an outside consultant and strategic advisor role effective May 5, 2023. He will continue as a Board member and his family office will remain the controlling shareholder. An interim CEO will be appointed before this transition. The change aims to alleviate distractions from a government investigation linked to Mr. Wiederhorn, allowing management to focus on shareholder value. FAT Brands, recognized as Public Company of the Year in 2022, has grown significantly, owning 17 brands with annual systemwide sales of $2.2 billion.

FAT Brands has announced the opening of a new Fazoli’s location at Phoenix Sky Harbor International Airport, Terminal 4. This new spot features a breakfast menu unique to the location, offering items like Hot Honey Chicken and Egg Breakfast Sandwiches. Fazoli's is reentering Arizona, aiming to cater to high foot traffic at the airport and expand its reach, with plans for a street-side location in Mesa later this year. The company operates nearly 220 Fazoli’s restaurants across 27 states, making it the largest premium Italian QSR chain in America. This move is part of FAT Brands’ strategy to grow its restaurant portfolio.

FAT Brands has expanded its presence with the opening of a new Great American Cookies location in Glendale, Arizona. This is part of a larger trend as the franchise has launched over 35 new locations globally in recent months. The Glendale shop features a variety of treats including the Original Cookie Cake, fresh cookies, and brownies. Located at Tanger Outlets, it aims to cater to shoppers' sweet cravings. FAT Brands continues to grow its portfolio, owning 17 restaurant brands and over 2,300 locations worldwide, showcasing its strong market positioning.

FAT Brands reported a strong fourth quarter and 2022 financial performance, with total revenue soaring 39.9% to $103.8 million. The company opened over 140 new stores throughout the year, marking significant growth and achieving system-wide sales growth of 22.1% in Q4. However, FAT Brands faced a net loss of $70.8 million in Q4, increasing from $19.6 million in the previous year. For the fiscal year 2022, revenue jumped 242.5% to $407.2 million, yet a net loss of $126.2 million was recorded. The company aims to open another 150-175 units in 2023 while focusing on reducing its leverage ratio.

LOS ANGELES, Feb. 22, 2023 - Johnny Rockets has launched a Chicken & Waffle Sandwich, utilizing Eggo Waffles as the bun. This unique offering includes crispy chicken, bacon, and syrup between two fluffy waffles, alongside a new Iced Coffee Shake. The collaboration aims to resonate with fans of both brands and is available for a limited time until April 30. This menu innovation aligns with Johnny Rockets' commitment to fresh, classic American fare. FAT Brands, which owns Johnny Rockets, continues to expand its culinary offerings, enhancing its market presence.

FAT Brands (NASDAQ: FAT) announced a conference call set for February 22, 2023, at 5:00 PM ET to discuss its fourth quarter and fiscal year 2022 financial results. A press release with the detailed financials will be distributed prior to the call. The call will be hosted by Andy Wiederhorn, President and CEO, and Ken Kuick, CFO. Participants can join via phone or by accessing the live webcast on the company’s corporate website. FAT Brands operates 17 restaurant brands, including Fatburger and Johnny Rockets, with over 2,300 units worldwide.

FAT Brands announced the opening of Great American Cookies in the Chicago suburbs of Schaumburg and Orland Park. The new locations will offer a variety of fresh-baked cookies and Create-Your-Own Cookie Cakes. FAT Brands aims to grow its presence strategically, with confidence in these communities appreciating their homemade treats. The Schaumburg location is at Woodfield Mall, while the Orland Park location is at Orland Square Drive. Great American Cookies, founded in 1977, is known for its Original Cookie Cake and will continue to expand its reach with more than 370 locations nationwide.

DALLAS, Feb. 13, 2023 – FAT Brands announced robust growth in 2022 for Twin Peaks, opening nine new restaurants and signing four area development agreements for 26 future locations in the U.S. and one in Mexico. The brand is on track to surpass 100 locations by spring 2023, with 95 currently open. CEO Joe Hummel highlighted Twin Peaks’ achievements, including top rankings in industry awards. The company plans to introduce 18-20 new restaurants in 2023, enhance its menu offerings, and expand its marketing efforts surrounding major sports events.

FAT Brands Inc. reported a remarkable year of growth, opening 142 new stores in 2022 and adding 362 stores to its development pipeline across 29 states and 17 countries. The company’s concepts led the expansion, with Fatburger and Buffalo’s Express contributing 86 stores, followed by Fazoli’s with 61, and Round Table Pizza with 56. Strategic agreements included 80 stores for Fatburger in Texas and a 32-store deal for Twin Peaks in Mexico. FAT Brands aims to open 175 new locations in 2023, capitalizing on its strong franchisee interest and a robust portfolio of popular restaurant brands.