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, Inc. operates and franchises pizza restaurant concepts through Pizza Inn and Pie Five Pizza Company. Company news typically centers on quarterly and fiscal-year financial results, revenue, net income, Adjusted EBITDA, comparable-store retail sales, and domestic and international unit counts across its franchised restaurant system.
Updates also cover franchise development, including Pizza Inn buffet locations, international franchising activity, and Pie Five's fast-casual pizza concept. Capital actions such as common-stock repurchases may appear alongside operating commentary and brand-level performance trends.
RAVE Restaurant Group reported positive financial results for Q2 2022, with a net income of $457,000, showing a significant increase from $102,000 in Q2 2021. Total revenue rose by $0.6 million to $2.7 million, driven by a 31% increase in Pizza Inn's comparable store sales and a 15% rise for Pie Five. The company has achieved seven consecutive quarters of profitability, boasting $8.2 million in cash. The launch of new menu items contributed to sales momentum, while the company is poised to settle $1.6 million in convertible notes in Q3 2022.
On January 18, 2022, Pie Five Pizza announced the launch of a new menu item called Mike's Sticky Fingers. This personal-size pepperoni pizza is topped with Mike's Hot Honey, combining two pepperoni varieties with sweet and spicy flavors. Available from January 17 to February 13 for just $5 with promo code 'BEEHOT', the pizza also features artisan thin or traditional Italian crusts. The brand, part of Rave Restaurant Group (NASDAQ: RAVE), aims to attract customers seeking innovative pizza options.
Pizza Inn is holding a fundraiser from January 7 to 9, 2022, at its locations in Paducah and Frankfort, Kentucky, to support families affected by a recent tornado. The initiative aims to assist seven families who lost their homes, with a portion of sales and cash donations collected at the restaurants. Local franchise owner Larry Rust mentioned ongoing efforts to feed first responders and provide community support. Over its 50-year history, the Paducah Pizza Inn has donated nearly $500,000 to local charities.
Pizza Inn has announced a multi-unit franchise agreement with Dion Firooznia to open six buffet restaurants in Tennessee and North Carolina, with the first location set to debut in Elizabethton, TN, by the end of 2021. Firooznia, who has extensive experience in the restaurant industry, emphasizes his belief in Pizza Inn's brand value and product innovation. The company is also offering attractive incentives for new franchisees, increasing its presence in key markets. This expansion aims to re-establish Pizza Inn's roots and enhance its buffet offerings.
Pizza Inn, a popular pizza chain, has reopened its restaurant in Waycross, Georgia, under new franchisee Hemi Dhar. Located at 501 City Blvd, the restaurant features house-made dough, fresh ingredients, and the signature all-day buffet from 11 a.m. to 9 p.m. This expansion comes after a challenging year for the industry. Chris Cochran, Senior Director of Franchise Sales, expressed optimism about the restaurant's potential success.
Pizza Inn, founded in 1958, is a subsidiary of RAVE Restaurant Group (NASDAQ: RAVE).
RAVE Restaurant Group reported a net income of $285,000 for Q1 FY2021, a significant increase from $76,000 Year-over-Year (YoY). Total revenue rose by 25% to $2.6 million, driven by strong sales at Pizza Inn (up 25%) and Pie Five (up 18%). On a diluted basis, net income improved to $0.02 per share from $0.00 YoY. While cash reserves declined to $7.9 million, the company has maintained six consecutive quarters of profitability. CEO Brandon Solano emphasized resilience amid pandemic challenges and upcoming product innovations.
Pie Five Pizza has opened its latest location in Danville, Virginia, at 114 Sandy Court. The new restaurant, operated by local entrepreneur Paresh Suthar, offers a drive-thru along with in-store, to-go, and delivery options. Highlights include a limited-time $5 2-topping Parmesan Crunch Stuffed Crust Pizza and various customizable pizza options. This is the only Pie Five in Virginia and the 34th location overall. The restaurant aims to meet the demand of busy customers and provides options suitable for various dietary restrictions.
Pizza Inn has partnered with Lincoln Pare, the second-year running back from Arkansas State, to enhance community engagement. The partnership includes autograph signings at local restaurants and the creation of a discount code 'Lincoln22' for 22% off online orders through January 2022. This initiative aims to strengthen Pizza Inn's presence in college towns. The chain also recently launched its House Pan Pizza and unlimited stuffed crust on the buffet, showcasing its commitment to innovation in its menu offerings.
RAVE Restaurant Group reported strong fourth-quarter results for fiscal 2021, achieving a net income of $926,000, up from $31,000 in the prior year. Total revenue rose by $0.8 million to $2.4 million, with Pizza Inn and Pie Five showing comparable sales increases of 63% and 36%, respectively. Full-year net income improved to $1.5 million, contrasting a net loss of $4.2 million for fiscal 2020. Cash and cash equivalents increased significantly to $8.3 million. The company highlighted its five consecutive quarters of profitability amid challenges from the pandemic.
Pizza Inn has inaugurated a new buffet location in Mountain View, Arkansas, operated by franchisees Eric and Heidi Myers, along with George and Julie Bethell. This marks the chain's 32nd outlet in Arkansas, located conveniently near the town square. The buffet will feature a variety of pizzas, including specialty options like Buffalo Chicken and BBQ Chicken pizzas. Operating hours are from 11 a.m. to 8 p.m. Sunday through Thursday and 11 a.m. to 9 p.m. Friday and Saturday. The brand is recognized for its house-made pizza dough and fresh ingredients.