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.
Pizza Inn has announced a partnership with RetailStack as its official point of sale provider. This decision, approved unanimously by Pizza Inn's Franchise Leadership Council, aims to enhance operational efficiency. RetailStack provides a flexible POS platform that supports digital transactions and integrates with third-party delivery services, reducing labor costs. Pizza Inn, part of RAVE Restaurant Group, continues to prioritize customer safety with its New Right-Way Buffet while expanding its technological capabilities for franchisees.
Pie Five Pizza opened its first location in Oregon on July 20, 2020, located at 2333 NW Kings Blvd. in Corvallis. The franchise aims to serve handcrafted personal pizzas made with fresh ingredients, and it will operate daily from 11 a.m. to 9 p.m. Franchisee Ravi Prasad expressed excitement about contributing to the community and emphasized their commitment to health and safety protocols. In a pre-opening event on July 18, proceeds will be donated to the Boys & Girls Club of Corvallis. Pie Five is part of Rave Restaurant Group and is noted for its fast-casual pizza experience.
RAVE Restaurant Group reported Q3 fiscal 2020 results, revealing a net loss of $4.5 million, compared to a loss of $0.3 million in the same period last year. Total revenue decreased by $0.4 million to $2.7 million, driven by a 7.8% decline in Pizza Inn comparable store sales and a 21.4% drop for Pie Five. The cash reserves also fell by $0.4 million to $1.5 million. The company took measures to reduce expenses, including staff furloughs and pay cuts, in response to COVID-19 challenges.