Rave Restaurant Stock Price, News & Analysis

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.

Pizza Inn, a subsidiary of RAVE Restaurant Group (NASDAQ: RAVE), has launched its new House Pan Pizza, featuring fresh, never frozen dough and 100% real mozzarella cheese. This product, available for delivery, carryout, and at the All You Can Eat Buffet, aims to set a new standard for pan pizza quality with high-quality ingredients. The launch includes promotional offers, such as a large two-topping pizza for $11.99. The House Pan Pizza is crafted daily in-house, offering a distinct flavor profile compared to competitors.

Pizza Inn has signed an international development agreement with Z.I.S. General Trading Company to open three new franchise locations in Palestine, starting with a store in Ramallah/Nablus projected to launch in March 2022. This three-year agreement includes options for additional stores. RAVE Restaurant Group's President expressed enthusiasm for this expansion, highlighting the importance of local operational expertise. Pizza Inn is recognized for its house-made dough and commitment to quality ingredients.

Pizza Inn, under RAVE Restaurant Group (NASDAQ: RAVE), has signed a multi-unit development agreement with franchisees Prakashkumar (Peter) and Sarah Solanki. This agreement includes plans for four new buffet locations in North Carolina, starting with a Lincolnton opening in spring 2022. The Solankis, who have been franchisees since 2019, currently operate a buffet in Vale. The brand emphasizes fresh, house-made pizza dough made daily.

Pizza Inn has partnered with Walid Haider, Chairman of Azalea Investment LLC, to open five new stores in Qatar by March 2022, marking a significant expansion into the Middle East. This agreement allows for potential additional stores, enhancing Pizza Inn's international footprint to 37 locations worldwide. The brand is known for its fresh, house-made pizza dough and quality ingredients, aiming to attract local communities in Qatar.