RAVE Restaurant posts higher Q1 sales, net income as Pizza Inn promotions help traffic, margins

Reuters
Nov 06
RAVE Restaurant posts higher Q1 sales, net income as Pizza Inn promotions help traffic, margins

Overview

  • RAVE fiscal Q1 revenue grows 5.3% yr/yr to $3.2 mln

  • Net income for fiscal Q1 rises 22.6% yr/yr to $0.6 mln

  • Adjusted EBITDA for fiscal Q1 increases 15.3% yr/yr to $0.8 mln

Outlook

  • Company plans to expand I$8 promotion in January to boost post-holiday traffic

  • RAVE Restaurant Group preparing for multiple Pizza Inn openings in second quarter

  • Company aims to increase Pizza Inn net buffet store count for fifth consecutive year

Result Drivers

  • PIZZA INN SALES - Pizza Inn domestic comparable store sales increased 8.1% in Q1, contributing to revenue growth

  • VALUE STRATEGY - I$8 promotion at Pizza Inn helped maintain traffic and margins, per CEO Brandon Solano

  • PIE FIVE CHALLENGES - Pie Five domestic comparable store sales decreased 9.1% in Q1, indicating segment challenges

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

$3.21 mln

Q1 EPS

$0.05

Q1 Net Income

$645,000

Q1 Pretax Profit

$851,000

Press Release: ID:nGNX9hpRVv

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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