Welcome to our dedicated page for Rave Restaurant news (Ticker: RAVE), a resource for investors and traders seeking the latest updates and insights on Rave Restaurant stock.
Rave Restaurant Group (NASDAQ: RAVE) operates Pizza Inn and Pie Five, blending buffet-style dining with fast-casual innovation. This news hub provides investors and industry observers with essential updates about franchising developments, financial performance, and strategic initiatives.
Discover official press releases covering quarterly earnings, new location openings, menu innovations, and leadership updates. Our curated collection ensures timely access to material developments across RAVE's domestic and international operations while maintaining compliance with financial disclosure standards.
Key focus areas include franchisee expansions, digital ordering enhancements, and operational efficiency metrics. Bookmark this page for streamlined tracking of RAVE's progress in the competitive restaurant sector, combining traditional pizza expertise with modern dining trends.
Pizza Inn has reopened its restaurant in Enid, OK, at 702 East Maine, under franchisees Tony and Katee Nemer. The buffet-style eatery offers signature pizzas, pastas, and desserts, complemented by a fresh salad bar. Operating hours are from 11:00 am to 9:00 pm daily, employing around sixty local residents. The Nemers, who also own the Blackwell, OK location, aim to restore Pizza Inn's reputation as a family-friendly dining spot. The brand's growth strategy has shown positive results, evidenced by the debut of a new restaurant prototype and increased sales. RAVE Restaurant Group's CEO, Brandon Solano, emphasized the emotional appeal of the Pizza Inn brand, which has served customers since 1958. The restaurant features popular menu items and special promotions, including buffets for seniors and kids.
RAVE Restaurant Group reported financial results for Q2 of fiscal 2023, showing a net income of $0.3 million, down from $0.5 million in Q2 2022. Total revenue increased to $2.9 million, driven by an 8.4% rise in Pizza Inn comparable store sales and a 6.3% increase for Pie Five. The company maintained stable income before taxes and adjusted EBITDA at $0.5 million and $0.6 million, respectively. Share repurchases totaled $3.6 million, though cash reserves fell to $3.4 million. The restaurant group plans significant investments, including a Pizza Inn rebranding and new menu offerings to enhance customer experiences.
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