Rave Restaurant Stock Price, News & Analysis

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.

Pizza Inn has announced a multi-unit development agreement with franchisees Charlie and Jeannie Clark to open four new stores in North Texas, with the first location set to launch in Sherman, Texas, in fall 2021. The Clarks, existing franchisees since 2019, aim to expand the brand's presence in an underserved market. RAVE Restaurant Group's COO expressed pride in partnering with committed franchisees, highlighting Pizza Inn's focus on fresh, house-made products. The company operates over 200 restaurant locations and aims to further enhance community engagement.

Pie Five Pizza has launched the new Parmesan Crunch Stuffed Crust Pizza, available from June 28 to July 11 for just $5 with promo code 'STFDCRNCH'. This unique pizza features house-made dough stuffed with mozzarella and topped with a crunchy layer of house-grated parmesan cheese. The introduction positions Pie Five as the first national fast casual pizza chain to offer personal stuffed crust pizzas. The brand aims to elevate the stuffed crust experience with high-quality ingredients and an innovative culinary approach.

RAVE Restaurant Group (NASDAQ: RAVE) announced the promotion of Clint Fendley from Vice President of Finance to Chief Financial Officer, effective July 5, 2021. Fendley has played a vital role since joining in January 2020, guiding the company through the pandemic with a focus on cost control and cash management. Under his leadership, RAVE achieved four consecutive profitable quarters, marking its most consistent earnings streak in nearly a decade. The company operates over 200 Pizza Inn and Pie Five Pizza locations globally.

Pizza Inn has introduced an Unlimited Stuffed Crust option on its All You Can Eat Buffet, starting from May 24, 2021. The new offering features house-made dough filled with mozzarella cheese, enhanced by a blend of Parmesan and Romano cheeses. This launch comes in response to high consumer demand and aims to differentiate Pizza Inn from competitors. The company's focus on high-quality, freshly made pizzas continues to attract customers, with franchisees receiving positive feedback on the new addition.

Pie Five Pizza has launched its new Impossible Tuscan Pizza, featuring plant-based Impossible meatballs. This addition aims to cater to health-conscious customers while maintaining robust flavors. The pizza is topped with a blend of ricotta, house-grated mozzarella, and fresh ingredients like grape tomatoes and arugula. This menu innovation replaces the previous meatball topping, reflecting Pie Five's commitment to enhancing customer experience. The new offerings align with the growing trend of plant-based diets, appealing to a broader audience.

RAVE Restaurant Group reported a net income of $0.4 million for Q3 2021, a significant turnaround from a net loss of $4.5 million in the prior year. Total revenue decreased by $0.5 million to $2.2 million. Pizza Inn's comparable store sales fell by 3%, while Pie Five remained stable. Net income per diluted share rose to $0.02 from a loss of $0.30. Cash and equivalents increased by $0.2 million to $6.5 million. The company launched a garlic-buttery crust and selected Pepsi as its exclusive soft drink supplier, aiming to boost customer engagement.

Pizza Inn has launched a new Pizza Inn Express store in Bearden, Arkansas, managed by franchisee David Blackmon, marking his fifth location in West Arkansas. The store is strategically located at the Bearden Travel Center and is open daily, offering a variety of pizzas including popular and specialty options. Pizza Inn currently has 28 locations in Arkansas, showcasing its growth in the region. RAVE Restaurant Group, the parent company, oversees over 200 Pizza Inn and Pie Five restaurants, emphasizing a commitment to quality and community involvement.

On March 29, 2021, Pizza Inn introduced a new Garlic Buttery Crust to enhance the flavor of its pizzas. This crust incorporates buttery garlic and a blend of Romano and Parmesan cheeses, tested successfully at five locations. The new offering is available on various crust styles, including New York Pan and Stuffed Crust, and will be featured in dine-in, carryout, and delivery services. The chain promotes special offers, such as a large 2-topping pizza for $9.99. Pizza Inn, part of RAVE Restaurant Group, has been serving quality pizza since 1958.