Welcome to our dedicated page for Ark Restaurants news (Ticker: ARKR), a resource for investors and traders seeking the latest updates and insights on Ark Restaurants stock.
Overview
Ark Restaurants Corp is a diversified hospitality operator that owns and operates an extensive portfolio of restaurants, bars, fast food concepts, and catering operations predominantly located across the United States. With a strong presence in major markets such as New York City, Washington, D.C., Las Vegas, Atlantic City, Florida, and Alabama, Ark Restaurants integrates a variety of dining experiences within both independent venues and high-profile integrated resort environments. Hospitality, restaurant operations, and integrated resort dining are at the core of its business model.
Core Business Areas
Ark Restaurants leverages a multi-faceted approach to food service by operating diverse dining formats. The company runs standard restaurants and bars in key urban and leisure locations, complemented by a range of fast food concepts that cater to on-the-go consumers. Additionally, its catering operations have established a reputation for serving large-scale events and in-house facilities within resorts and casinos.
- Restaurant and Bar Operations: The company manages a mix of casual and upscale dining venues situated in major hospitality hubs and resort settings.
- Fast Food Concepts: Focused on efficiency and quality, the fast food units serve a broad spectrum of consumer needs in high-traffic locations.
- Catering Operations: These services support internal resort functions such as room service, banquet facilities, and employee dining, as well as external event catering.
Operational Footprint and Market Position
Operating in strategic locations, Ark Restaurants has capitalized on high-demand markets. In Las Vegas, for instance, the company not only runs multiple standalone hospitality venues but also plays an integral role in the operational ecosystem of casino resorts. This includes providing dining services within hotels, maintaining food court offerings, and managing banquet and room service operations. In Atlantic City and Florida, its presence spans both resort-backed operations and local dining establishments that cater to residents and visitors alike.
Business Model and Revenue Generation
The company’s revenue model is diversified, relying heavily on the synergy of managing full-service dining, fast food, and catering within integrated resort environments. By maintaining in-house operations at various high-traffic locations, Ark Restaurants is able to benefit from cross-selling opportunities in environments where entertainment and leisure converge with dining. This operational versatility is designed to mitigate risks and adapt to shifting consumer preferences within the competitive hospitality industry.
Competitive Advantages and Industry Dynamics
Ark Restaurants competes in a challenging marketplace that requires constant attention to quality, efficiency, and customer service. Its ability to operate in diverse settings—from urban centers to integrated resort facilities—offers a competitive edge that few hospitality operators achieve. The company differentiates itself by combining rigorous operational standards with versatile dining options that appeal to a broad demographic of diners. This strategic positioning allows Ark Restaurants to capture value across multiple segments of the food service industry, thereby enhancing its overall market resilience.
Expertise and Operational Excellence
Driven by deep industry expertise, Ark Restaurants has honed its operational processes to meet the demands of both high-volume fast food and more refined dining experiences. The company’s management team employs a hands-on approach to ensure quality and efficiency across its broad spectrum of services. This operational excellence is critical in maintaining consistent service standards and in upholding a reputation for reliability and customer satisfaction in the competitive hospitality landscape.
Conclusion
Overall, Ark Restaurants Corp stands as a well-integrated hospitality operator with a robust presence in key U.S. markets. Its diversified portfolio of restaurants, bars, fast food outlets, and catering services is carefully designed to meet varied consumer needs while leveraging the unique dynamics of integrated resort environments. The company's comprehensive approach to food service positions it as a noteworthy entity within the industry, providing both value and variety in its business operations.
Ark Restaurants (NASDAQ:ARKR) reported financial results for Q1 2025 ended December 28, 2024. Total revenues decreased to $44.99M from $47.49M in Q1 2024. Company-wide same-store sales declined by 2.3%, excluding El Rio Grande and Tampa Food Court operations.
Net income rose to $3.16M ($0.88 per share) compared to $1.37M ($0.38 per share) in the prior year. EBITDA, as adjusted, decreased to $1.38M from $2.57M. The company recorded a gain of $5.24M from the Tampa Food Court closure and a $146,000 loss from El Rio Grande's closure.
As of December 28, 2024, ARKR had $13.1M in cash and cash equivalents with total debt of $4.7M. The company's Bryant Park Grill & Cafe and The Porch at Bryant Park leases expire on April 30, 2025, with the landlord selecting a new operator for both locations.
Ark Restaurants Corp. (NASDAQ:ARKR) has scheduled a conference call to discuss its first quarter financial results for the period ended December 28, 2024. The call will take place on Tuesday, February 11, 2025, at 11:00 a.m. Eastern Time.
Investors and analysts can participate via toll-free (1-877-407-4018) or international (1-201-689-8471) numbers. The call will also be broadcast over the Internet, with a replay available until February 18, 2025.
The company currently operates 16 restaurants and bars, 12 fast food concepts, and catering operations across multiple locations including New York City, Florida, Washington DC, Las Vegas, Atlantic City, and Alabama. Notable operations include restaurants within the New York-New York Hotel & Casino Resort, Planet Hollywood Resort and Casino, Tropicana Hotel and Casino, and various establishments along Florida's east coast and Alabama's Gulf Coast.
Ark Restaurants (NASDAQ:ARKR) announced financial results for the fourth quarter and fiscal year ended September 28, 2024. Total revenues for Q4 2024 were $43.4M, slightly down from $44.4M in Q4 2023. Annual revenues for 2024 were $183.5M, down from $184.8M in 2023. Company-wide same-store sales decreased by 3.6% for Q4 2024 and 1.1% for the year.
Net loss for Q4 2024 was $4.5M or $1.24 per share, an improvement from a net loss of $10.4M or $2.88 per share in Q4 2023. Annual net loss for 2024 was $3.9M or $1.08 per share, compared to $5.9M or $1.65 per share in 2023. Adjusted EBITDA for Q4 2024 was $503K, compared to $585K in Q4 2023. For the year, adjusted EBITDA was $6.1M, down from $9.3M in 2023.
As of September 28, 2024, Ark Restaurants had $10.3M in cash and cash equivalents and $5.2M in total debt. The company also recorded significant impairment charges and losses related to property closures and lease terminations.
Ark Restaurants Corp. (NASDAQ:ARKR) has scheduled a conference call to discuss its fourth quarter and year-end financial results for the period ended September 28, 2024. The call will take place on Tuesday, December 17, 2024, at 11:00 a.m. Eastern Time.
Investors can participate via toll-free (1-877-407-4018) or international (1-201-689-8471) numbers. The call will also be broadcast online, with a replay available until December 24, 2024.
The company currently operates 17 restaurants and bars, 16 fast food concepts, and catering operations across multiple locations including New York City, Florida, Washington DC, Las Vegas, Nevada, and Alabama. Notable operations include restaurants within the New York-New York Hotel & Casino Resort, Planet Hollywood Resort and Casino, and various locations at Hard Rock Hotels and Casinos operated by the Seminole Indian Tribe.
Ark Restaurants Corp. (NASDAQ:ARKR) reported financial results for Q3 2024. Total revenues were $50,396,000, down from $51,051,000 in Q3 2023. For the 39-week period, revenues slightly decreased to $140,139,000 from $140,393,000. Company-wide same-store sales decreased 2.3% excluding Gallagher's Steakhouse. EBITDA, as adjusted, for Q3 2024 was $3,375,000, down from $4,663,000 in Q3 2023. Net income for Q3 2024 was $640,000 ($0.18 per share), compared to $3,195,000 ($0.89 per basic share) in Q3 2023. The company recognized impairment charges of $2,500,000 related to its Sequoia property in Washington, D.C. As of June 29, 2024, Ark had a cash balance of $11,467,000 and total outstanding debt of $5,738,000.
Ark Restaurants Corp. (NASDAQ: ARKR) has announced a conference call to discuss financial results for Q3 2024, ending June 29, 2024. The call will take place on Tuesday, August 13, 2024, at 11:00 a.m. Eastern Time.
Participants can join via toll-free at 1-877-407-4018 or internationally at 1-201-689-8471. The call will also be broadcast online at this link. A replay will be accessible within three hours post-call until August 20, 2024, at 11:59 p.m. Eastern Time, via toll-free 1-844-512-2921 or internationally 1-412-317-6671, with Pin Number 13748396.
Ark Restaurants operates 17 restaurants and bars, 16 fast food concepts, and catering services primarily in New York City, Florida, Washington, DC, Las Vegas, Nevada, and Alabama's Gulf Coast.
Ark Restaurants Corp. (NASDAQ: ARKR) reported financial results for Q2 2024, ending March 30, 2024. The company posted total revenues of $42.26 million, slightly higher than $41.90 million in Q2 2023. For the first half of 2024, revenues were $89.74 million, up from $89.34 million in the same period last year. Adjusted EBITDA for Q2 2024 was a loss of $321,000 compared to a gain of $1.00 million in Q2 2023. Net loss for Q2 2024 was $1.45 million, or $0.40 per share, worsening from a net loss of $484,000, or $0.13 per share, in Q2 2023. For the first half of 2024, adjusted EBITDA was $2.25 million, down from $4.02 million in the first half of 2023. Net loss for the first half of 2024 was $79,000 compared to net income of $1.24 million in 2023. A quarterly dividend of $0.1875 per share was announced, payable on June 12, 2024.
Ark Restaurants Corp. (NASDAQ:ARKR) will hold a conference call to discuss financial results for the second quarter ended March 30, 2024. The call will take place on Tuesday, May 14, 2024, at 11:00 a.m. Eastern Time. Investors and analysts can participate via dial-in numbers or through an online broadcast. Ark Restaurants owns and operates restaurants, bars, fast food concepts, and catering operations across various locations.
Ark Restaurants announced a quarterly cash dividend of $0.1875 per share to be paid on June 12, 2024, to shareholders of record as of May 31, 2024. The Board of Directors will decide on future dividends based on the Company's operating performance and other factors.
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